In a statement to CalvinAyre.com, Novomatic’s Head of Group Communications Bernhard Krumpel explained, “…the change as outlined by the recent announcement on Novomatic’s percentage ownership in Ainsworth was a direct result of dilution through the issuing of new shares by Ainsworth through the Dividend Reinvestment Plan (DRP) in May and November 2016 prior to Novomatic completing its ownership of the shares from Mr. LH Ainsworth and entities controlled by him.”
“In fact, Novomatic confirmed its commitment to Ainsworth through a full take up of its entitlement for the interim dividend in May 2018 once the completion of the transaction had occurred. These factors resulted in a change in percentage ownership as required under Australian regulatory requirements,” Krumpel said.
Explains why they got diluted down. Stuff up because dividend reinvestment plan wasn't activated by Lenny.
AGI Price at posting:
$1.17 Sentiment: Buy Disclosure: Held
