04 September 2025: Why is AGI trading at $1.03 and Novomatic offering $1?

At the time of writing, AGI shares were trading on the ASX at $1.03. Some shareholders have asked me why Novomatic is still offering $1. Here’s why.

When Novomatic made its “best and final offer” via the Scheme of Arrangement, it offered $1 per share.

Under ASIC’s regulations and the Takeovers Panel’s “truth in takeovers” policy, Novomatic cannot raise its offer for four months. This also means that Novomatic and its associated entities cannot buy on-market for more than $1.

Shareholders are free to check the publicly traded share price if you would like to assess how Novomatic’s new offer compares with the on-market price.

I personally believe the shares are worth more, and am open about the fact that I have been a buyer in recent days.

It is up to every shareholder to make a decision to buy, sell or hold based on your individual circumstances. I do urge you to carefully read what Novomatic is proposing and to make an informed decision.

Kjerulf Ainsworth