Novamedia Founders Boudewijn Poelmann and Annemiek Hoogenboom have donated all their shares in Novamedia, owner of charity lottery formats and brands, including the Postcode Lottery, the BankGiro Lottery and the FriendsLottery.
Based on the gift – estimated to be worth between € 30 million and € 55 million – the ‘Stichting de Novamedia Fundatie’ foundation has now become the sole (100%) shareholder of Novamedia. Goal is to seal its mission and protect Novamedia permanently from takeover.
This gift is the closing act in the process initiated in 2008 to cluster all the shares in a foundation. A foundation governed by a board chosen by different layers in the organisation as to ensure the foundation will forever be faithful and loyal to Novamedia's mission. Early 2017 the new governance structure will be introduced.
The former shareholders decided to create this structure to prevent Novamedia and its lottery formats and operations from getting into the hands of foreign investors or commercial (gambling) companies. Since 2008, the foundation has gradually acquired most of the shares, but the last tranche of 18.97% remained in the hands of the Novamedia founding couple until last week.
The Novamedia Foundation was established to ensure that future profits will only be invested in new social initiatives, such as charitable lotteries. “We once started a company that you could characterise today as a social enterprise,” Boudewijn Poelmann and Annemiek Hoogenboom say. “It was always related to charitable causes. But because the company generates significant profits as well, it now also has commercial value. This attracts people with other (commercial) motives not in line with the original mission.”
The Foundation is structured in such a way as to prevent future board members from being able to sell off shares. “We wanted to leave something behind – and that has become this company. Even after our departure, it may not fall into the wrong hands. That’s why we’ve made it impossible that any shares can ever be sold.”
Tv interview January 2, 2017 with Boudewijn Poelmann, click here
‘Source: het financieele dagblad 30 December 2016’