A fresh proportional takeover bid has been launched for Ainsworth Game Technology (ASX:AGI), offering shareholders an all-cash exit for a portion of their holdings.
The bidder has proposed to acquire 5.5% of all ordinary shares that they do not currently own at an offer price of $1.30 per share.
The strategic move follows a previous proportional bid that concluded in late January; if successful, this current offer would allow participating shareholders to have realised an aggregate of 8.4% of their total interest in the company.
The $1.30 offer price represents a significant premium over recent trading activity.
It sits 23.8% above the closing share price recorded on March 10 and provides a 23.5% premium against the 30-day volume-weighted average price.
The bid is 30% higher than the previous $1 per share off-market offer made by Novomatic, which closed in February.
Under the terms of this proportional bid, AGI shareholders can secure immediate liquidity and "certainty in value" without incurring the standard brokerage costs associated with on-market sales.
As the bid only targets 5.5% of each individual's holding, investors will retain the vast majority of their shares, allowing them to remain exposed to any future growth or performance improvements within the company.
At the time of reporting, Ainsworth Game Technology's share price was $1.05.