Len Ainsworth’s wife and family members are expected to be able to vote as minority shareholders for the sale of Ainsworth Game Technology to Austria’s Novomatic, local media reports.
Ainsworth told Fairfax Media that he expected his family would be able to vote almost 10 percent stake at the extraordinary general meeting scheduled for June 3.
“Our company secretary has checked the legalities and says they will be able to vote their shares and will be treated as minorities,” said Ainsworth.
The independent directors have yet to make a call on whether Ainsworth and his family would be treated as minority shareholders.
On Feb. 23, Ainsworth announced he was planning to sell 100 percent of his stake in AGT to Novomatic for A$473 million (US$359.5 million), the privately owned Austrian gaming technology company. Novomatic will own around 53 percent of AGT’s issued capital upon completion of the sale.