Hermes Conglomerate
| |
| Type | Services Provider |
| Country | Taraskovya |
| Headquartered | Hermes Facility Island, Grand Duchy of Taraskovya |
| Founded | 1335 A.S. |
The Hermes Conglomerate is an important Taraskovyan provider of trade opportunities and other services to the broader international market. The Conglomerate operates a gigantic facility covering the entirety of the Hermes Facility Island, as it is often referred to, as well as a number of orbital installations.
The main goal of the Conglomerate is to provide clients with space and infrastructure to conclude their deals, open new clients to broader markets. It works mainly with private companies and investors, although some State governments have also shown interest in the trade facility.
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Description
The main facilities of the Conglomerate are located on Earth, on the gigantic Hermes Facility Island, which covers an area of approximately 200’000 km2 . The island lies just east of the Fiefdom of Uthar and shares maglev connection with the mainland, albeit a visitor would have to pass a border control.
Indeed, Hermes Island benefits a special exterritorial status within the Grand Duchy, which allows the Hermes Conglomerate to deal with a broader array of clients, not limited by Taraskovyan legislation. Indeed, the latter tends to discourage trade with species that are not counted into the legal definition of “human”. No such problems arise on the island, however, as everyone is welcome, except troublemakers.
Present Status
In 1137, the Vortex Corporation, a corporate State that owned the Hermes Conglomerate and its facilities, merged economically with the Taraskovyan VerTech Corporation, creating the massive VerTech Conglomerate, a hegemon in all areas of economy. The population and territories of the Vortex Corporation passed under Taraskovyan State administration.
The Hermes Conglomerate, thus, came to be under VerTech ownership. VerTech, while having near exclusive rights over the company, does not use them and leaves Hermes to function as a semi-independent entity. With the general Taraskovyan economy on the rise, Hermes Conglomerate profits have skyrocketed in the past year, making the venture one of the most profitable of Taraskovyan investment projects.
Foreign Ownership Limitations
Due to the ties of the Hermes Conglomerate to VerTech and the Grand Duchy of Tarasovka, the maximum percentage of shares that can be bought by interested parties depend on the political and diplomatic standing of their host countries vis-à-vis of the Grand Duchy and of the Sisgardian community. As such, members of the Sisgardian Fellowship of Nations are entitled with the right to purchase up to 15% of the total stock, members of the World Technological Entity up to 13%. Investors hailing from non-affiliated states have the right to purchase up to 7% of the total stock.
VerTech Conglomerate owns the only Golden Share of the Hermes Conglomerate, which gives it exclusive rights to decide on the fate of the venture. However, this has only been done in order to avoid creating ambiguous situations as of ownership of Hermes Facility Island vis-à-vis of the Grand Duchy. The Hermes Conglomerate's board operates as semi-independent from the mother company.
As of January 1150 AS, the shareholders are as follows:
- Hermes Conglomerate, Tarasovka – 30%
- Feanor Holdings Group, Menelmacar - 13%;
- VerTech Conglomerate, Tarasovka - 12%;
- Federal Business Combine, Federation of Technocratic Republics - 6,7%;
- Private investors and minor companies, Taurenor - 6,7%;
- Private investors and minor companies, The Dominion - 5,6%;
- Private investors and minor companies, Cairn Tarra - 4,5% ;
- Private investors and minor companies, Larkinia - 3% ;
- Constantly traded - 3,8%
An important amount of shares have been accumulated by the Hermes after some of the investors sold their shares, which were then bought out by VerTech before being beefed back into Hermes to allow the latter gain additional income by reserving a part of the dividends for itself. This was done during the less economically bright years of the Time of Troubles. In the past two years, the economic boom in Taraskovya has made such measures unnecessary.
