{"id":8628,"date":"2024-03-12T00:00:00","date_gmt":"2024-03-12T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/europe\/ainsworth-accused-of-a-bad-move-to-sell-cheap-to-novomatic\/"},"modified":"2024-03-12T00:00:00","modified_gmt":"2024-03-12T00:00:00","slug":"ainsworth-accused-of-a-bad-move-to-sell-cheap-to-novomatic","status":"publish","type":"europe","link":"https:\/\/www.mundovideo.com.co\/en\/europe\/ainsworth-accused-of-a-bad-move-to-sell-cheap-to-novomatic\/","title":{"rendered":"Ainsworth accused of a bad move to sell cheap to Novomatic."},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">An American shareholder of pokies supplier Ainsworth Game Technology has accused the company of talking down the value of the stock and limiting it to &ldquo;obscurity&rdquo;, slamming a strategic review process which he says has depressed the share price.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">Ainsworth is considering whether to take itself private for its next stage of growth and has hired Macquarie to conduct a review designed to maximize value for shareholders.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">At the company&rsquo;s annual results last week, Ainsworth chief executive Harald Neumann ruled out one option &ndash; listing the stock in the US. He said the outcome of the review would be determined later this year.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/www.mundovideo.com.co\/assets\/international\/ainsworth-accused-of-a-bad-move-to-sell-cheap-to-novomatic2.jpg\" style=\"height:350px; width:390px\" \/><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">Speaking with the <\/span><\/span><em><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">Australian Financial Review<\/span><\/span><\/em><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\"> over the weekend, David Kanen of Kanen Wealth Management &ndash; which holds around 8 million Ainsworth shares, stated his belief that the business was &ldquo;severely undervalued&rdquo; after Ainsworth CEO Harald Neumann told investors a secondary listing in the United States was not an option.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><em><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">&ldquo;I believe our CEO talked the stock down,&rdquo;<\/span><\/span><\/em><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\"> Kanen said. <em>&ldquo;By limiting themselves to being in obscurity, solely on the Australian exchange &hellip; they&rsquo;re missing a much bigger sized audience. Remaining in obscurity results in low volume, lower valuation and lack of price discovery, no US research coverage.&rdquo;<\/em><\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">According to the <\/span><\/span><em><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\">AFR<\/span><\/span><\/em><span style=\"font-size:14.0pt\"><span style=\"font-family:Arial\"> report, Neumann claims a secondary listing would cost the company around AU$10 million but a number of shareholders, including Karen, dispute this &ndash; instead putting the cost at less than AU$2 million.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-size:20.0pt\"><span style=\"font-family:Arial\">The <\/span><\/span><em><span style=\"font-size:20.0pt\"><span style=\"font-family:Arial\">AFR<\/span><\/span><\/em><span style=\"font-size:20.0pt\"><span style=\"font-family:Arial\"> has named Oaktree, American Gaming Systems, Zitro Games and Merkur Group among other potential suitors for the Australian firm.<\/span><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cI believe our CEO talked the stock down,\u201d Kanen said. \u201cBy limiting themselves to being in obscurity, solely on the Australian exchange<\/p>\n","protected":false},"author":1,"featured_media":8629,"menu_order":286,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4456,4453,4454,4455],"class_list":{"0":"post-8628","1":"europe","2":"type-europe","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-accusation","8":"tag-ainsworth","9":"tag-david-kanen","10":"tag-kanen-wealth-management","11":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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