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www.atlantis-investment.net By SL Hak Atlantis Land Corp. (ALC) are leading the charge, they appear to be the first property company to embrace the new LL price structure and are proposing expanding their property portfolio. CEO Hannibal Kennedy already has 8 sims in their stable, including The Beach and Beachland and concentrates predominantly on residential sims with one dedicated to the commercial market. ALC is listed on the World Stock Exchange (WSE) and is canvassing their shareholders as they propose redirecting Q1 profits towards expansion, this has implications for shareholders who were expecting Q1 dividend payments. ALC has also indicated that they would then purchase a third sim on completion of the sale of land in the first two sims.
Atlantis IPO'd in May 2007 and continue to eye expansion possibilities, the reduction in LL fees making rapid progress a real possibility. Hannibal Kennedy has wisely decided to poll it's shareholders on which option they prefer. ALC has reported L$160k in profit for March and believes that with the addition of 3 sims they'll be able to offer their shareholders regular dividend payments, it would also make it one of the largest listed property companies. ALC has a policy of issuing 80-90% of profit as dividend, it is expected that this will continue after the expansion. Hannibal has generated approaching L$1 million in profit for ALC over the last six months and expects to increase this by 20% over the coming 6 months. It is also comforting to know that Hannibal has not intention of diversifying away from land, Hannibal preferring to concentrate on what he knows best.It is good to see a CEO seeking input for their shareholders and what ever they decide I see continued expansion from ALC in the coming months. If you have a story please IM or send an e-mail to Hak at
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