Ainsworth Game Technology Limited (AGT) –Proposed sale of Mr Len...

Ainsworth Game Technology Limited (AGT) –Proposed sale of Mr Len Ainsworth’s shares to Novomatic

Ainsworth Game Technology Limited (AGT) is pleased to announce it has received notice from its major shareholder, Mr Len Ainsworth that he has agreed, subject to conditions outlined below, to sell100% of his current holding in AGT (excluding a small number of shares that remain subject toemployee options under the Len Ainsworth Option Share Trust) to Novomatic, the privately owned,Austrian based gaming technology company.

Share Sale, EGM Mr Ainsworth agreed to sell his 172.1 million ordinary shares at $2.75 per share for cash consideration,subject to regulatory and licence approvals. As Novomatic will own approximately 53% of AGT’sissued capital upon completion of the sale, the sale is subject to shareholder approval pursuant tosection 611 item 7 of the Corporations Act 2001 (Cth) (Corporations Act). The board of AGTsupports the transaction and will convene an extraordinary general meeting of AGT shareholders toseek the necessary approval (EGM). The Board of AGT will prepare a notice of meeting and engagean independent expert. The EGM will be held within 3 months and further details will be provided toshareholders in due course.

Board recommendation In the absence of a superior proposal each of the directors other than Mr Ainsworth who has recused himself, intends to vote the shares under their control in favour of the transaction. Each of the directorsother than Mr Ainsworth intends to recommend shareholders vote in favour of the transaction, in theabsence of a superior proposal and unless the independent expert opines that the advantages of thetransaction do not outweigh the disadvantages to the non-associated shareholders.

It was all too easy.