Kalistan

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Miramar, the business arm of House Ananto, invests in new Casino and Gaming Concern near Sulari



House Ananto forms a new Holding Company
Imperial Family actually goes into busines
Sulari, Duchy of Suldanor
June 23, 5563

House Ananto, the formal institution of the Royal Family, currently directed by His Highness, Grand Duke Mark Ananto-Orleans, has formally incorporated a new holding company designed to allow the Grand Duke to pursue business interests separate from the formal House Ananto.  Grand Duke Mark Ananto-Orleans has contributed more than ₭100 million that will serve as an initial capitalization of the company called Miramar Holdings (KelSiE: MAR).  Ananto will appoint a board of directors to ensure that corporate governance stays separate from House Affairs, and Ananto will hold the majority share of stock.

"We seek to raise an additional ₭75 million in the first round of investment raising," said Grand Duke Mark Ananto-Orleans at Miramar HQ in downtown Sulari.  "The function of Miramar is to give House Ananto a vehicle to invest in enterprises across the Empire while shielding the House's finances in perpetuity.  According to the articles of incorporation, Miramar is to provide a dividend to House Ananto equal to or less than the House's portion of annual profit in a year.  In this way, it will provide a regular annuity to the House itself, which can then be turned around to serve as additional capitalization for new operations."

The first operation of Miramar is the new Miramar Casino and Resort owned by the independent Investment Consortium Sulari Gaming.  Sulari Gaming has already begun building.  "Building a new casino in Sulari will create a new tourist draw to Kalistan's second city," said Grand Duke Ananto.  "There will be round the clock table games, slot machines, Keno, and horse racing year round.  We will also be constructing horse track facilities in Dana, Gendaris, Eshar, Vrassa City, Luxon and Dulnerstaad, to allow for off track betting in Sulari.  Miramar will usher in a whole new era of gaming and entertainment in Kalistan.  It will pay a nice amount of taxes to the State and a nice annuity to House Ananto, to ensure the Royal Family's financial well being perpetually."

The corporation will be governed by a Board of Directors that shall be regulated and taxed as a private entity.  Its main function will be to invest in various new enterprises rather than own them outright.  "This will provide an additional layer of protection of the Royal Family's financials," said the Grand Duke.  "We are providing start up and sustaining capital for other entities, and can therefore keep our money itself fluid, because rather than being tied to the health, we can easily move money in and out on the Securities Exchange.  The idea is to earn profit for Miramar.  When those companies we invest in do well, we do well.  When they do poorly, we can get out  and assist either with liquidation or restructuring and protect the Family's money."

As a pure profit making holding company, the company will provide a block of stock for public trade and investment.  Assuredly, most of that stock will be purchased before it goes public by institutional investors such as The Bank of Suldanor and the Bank of Kalistan.  Other institutional investors will also want to get in on the Holding Company as well.  "Rules of incorporation dictate that the Majority block must always be held by House Ananto, but as we reinvest our profits into Miramar, ultimately, we will end up diluting the share of others, which means we will periodically have to open up new blocks of stock.  House Ananto will strive to maintain between a 60 and 70% share in the holding company.  Ideally we would like to build a total market capitalization of over ₭1 billion, 60% of which is Ananto money.  That should earn a solid dividend of ₭35 to ₭40 million a year for House Ananto which will be more than enough to maintain the Anantos in perpetuity."

Grand Duke Ananto will not sit on Miramar's board, but will ensure that the majority of the board represents House Ananto's interests first and foremost through its majority share.