Kjerulf Ainsworth, a son of Ainsworth Game Technology Ltd founder Len Ainsworth, has increased his stake in the company to 9.55 percent, following a string of on-market acquisitions during May.
That is according to a Wednesday filing by the slot machine maker to the Australian Securities Exchange.
Mr Kjerulf Ainsworth controlled 8.35 percent of the firm’s ordinary shares as of late April, following closure of a proportional offer for 5.5 percent of each shareholder’s ordinary shares. That was as the second proportional offer made by Mr Kjerulf Ainsworth for the firm’s shares.
His on-market acquisitions during May were performed at a price range of AUD1.05 (US$0.75) to AUD1.60 per share, per Wednesday’s announcement.
Austrian gaming equipment maker Novomatic AG controls over 67 percent of Ainsworth Game.
In August 2025 Novomatic made an “unconditional” takeover bid of AUD1.00 per share for the shares that it did not control in Ainsworth Game, with the aim of reaching a 75-percent threshold to take the business private.
That offer ended in February this year, without Novomatic achieving the 75-percent holding target.
Mr Kjerulf Ainsworth had been opposed to Novomatic’s buyout offer to the minority stockholders, on the basis that Novomatic undervalued Ainsworth Game.
At Ainsworth Game’s annual general meeting in late May, the company’s shareholders voted against the election of Lawrence Levy as a non-executive director.
The nomination of Mr Levy, a former Ainsworth Game’s chief executive, had been supported by Mr Kjerulf Ainsworth.
The meeting also saw two proposals by Novomatic being turned down. Those resolutions included amendments to the constitution relating to disclosure of director interests and a proposal to renew proportional takeover provisions.
Ainsworth Game said earlier this month that it expected first-half revenue of about AUD116 million, down 23.7 percent year-on-year, while profit before tax – excluding currency impacts and one-off items – was forecast at approximately AUD1 million, down from AUD13.9 million in the prior-year period.
