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Len Ainsworth share sale to Novomatic set for Jan. 5

Ainsworth Game Technology has announced it has received the final gaming regulatory approvals for the sale of founder, Len Ainsworth’s shares to Novomatic AG.

Mr Ainsworth and Novomatic first entered into a share sale and purchase agreement in February 2016, under which Mr Ainsworth agreed to sell 172.1 million ordinary shares to Novomatic, subject to regulatory and license approvals.

The transaction was later approved by AGT shareholders in June 2016.

Now, with the final regulatory approvals secured, in accordance to the share sale and purchase agreement, Mr. Ainsworth and Novomatic have agreed that completion of the transaction will take place on January 5, 2018.

Upon completion, Novomatic will hold 52 percent of AGT’s issued capital.

Earlier this year, Novomatic said it has plans to intensify its work in Australia, Asia and North and South America, following the acquisition of a controlling stake in AGT.

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