Lion and Perry Foundations to Merge

For immediate release

18 November 2009

Increased funding for New Zealand’s community groups will result from the merger of two of the country’s leading charitable trusts – The Lion Foundation and Perry Foundation.

As of 1 January 2010, the two trusts will merge their operations, under The Lion Foundation name, operating 261 gaming venues across the country. The efficiency gains achieved by merging the two organisations will allow more funds to be returned to New Zealand communities and their causes.

In addition to the funding benefits, The Lion Foundation Chair Mike Smith says the merger could be the first step in achieving much needed consolidation in the charitable gaming sector.

“The gaming industry is entering a period of significant change. We anticipate that this new organisation will be a key industry player and we remain committed to regulatory transparency and alignment with the Department of Internal Affairs,” says Mr Smith.

“We will maximise the synergies of both charitable trusts and continue to support worthy community causes across the spectrum, including arts, culture, sports, education and health. Combined efficiencies and reduced administration costs will ultimately mean increased funds to assist even more community groups.”

Mr Smith adds that the merger discussions have been underway for a number of weeks, well prior to the Department of Internal Affairs’ claims concerning grants made to certain trotting clubs.

“As stated previously, those claims are fully rejected by The Lion Foundation and Perry Foundation. Both societies have been and remain committed to regulatory transparency and alignment with the Department.”

Originally a family owned and operated trust, the Perry Foundation has a strong history in the Waikato and Bay of Plenty region. Simon Perry, Chair of the Perry Foundation, says this link will be maintained with the merger.

“The resulting trust intends to support grant recipients which the Perry Foundation has traditionally supported, and remains committed to providing first class service to venue customers across the country,”says Mr Perry. “Essentially it is business as usual on all fronts – for both community groups looking for funding and for our venue operators.

“This merger provides exciting prospects for the future – the combined expertise, systems and processes of the two organisations positions us well to deliver much needed grants to even more worthy community causes.”

Following the merger, the Board of The Lion Foundation will be made up of a combination of existing trustees from The Lion Foundation and the Perry Foundation.

ENDS

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