Ainsworth to postpone general meeting

Australia-listed Ainsworth Game Technology Limited has postponed its general meeting as a result of the recent applications filed with the Takeovers Panel.

The meeting, originally scheduled for June 3 will be postponed “no later than 30 days”, said the gaming equipment manufacturer in a filing to the ASX on Monday.

In February, Ainsworth founder and chairman, Len Ainsworth had entered into a sale and purchase agreement with Novomatic AG, subject to shareholder approval.

Earlier this month, the Australian Takeovers Panel received applications from Australian Securities and Investments Commission as well as Fortress Centaurus Global Master Fund in regards to the sale.

The application from ASIC sought to prevent Ainsworth’s wife from using her stake to influence a shareholder vote on the deal.

The application from Fortress argued that any family member and companies controlled by them should also not be entitled to vote to approve the share sale, and furthermore sought an interim order requiring that the shareholders meeting be adjourned until the application is resolved.