NEW YORK, June 18, 2018 (GLOBE NEWSWIRE) — Williamsville Sears Management Inc. (OTC Pink:WSML) (“WSML” or the “Company”) is pleased to announce today that the Company has entered into the definitive agreement of the previously announced acquisition of FPL Holdings Inc., the parent company of Femab Properties Limited.
As filed on FORM 8K with the Securities and Exchange Commission on June 18, 2018, the terms of the agreement are available as an exhibit.
Amanda J. Wester, the Chief Financial Officer of Williamsville Sears, stated: “We are poised with excitement undertaking FPL Holdings Inc. and its operating Company Femab Properties Limited. The transaction is the culmination of picking the right opportunities with great potential for our shareholders. We look forward to working with Mr. Aguda.”
The Chairman & CEO of Williamsville Sears Management, Inc., Kent A. D. Clark stated, “We welcome FPL Holdings Inc. as a subsidiary of WSML today. We have entered into a definitive agreement and look forward to closing this transaction as soon as possible for our Shareholders. This acquisition adds to our diverse portfolio and provides depth to our organization. I look forward to our Partnership and growing together with our newest partner. Mr. Aguda has been working diligently to assist with the acquisition and we will continue to build on our relationship moving forward.”
Mr. Abiodun Aguda, Chairman & CEO of FPL Holdings, added: “We are happy today to be part of Williamsville Sears Management Inc. as it forms part of our strategic growth plan continuing to return superior earning to our shareholders. We strongly believe in this partnership, WSML will commit adequate and necessary resources to develop the vast assets now available for the conglomerate for mutual benefit in order to place Femab Properties as a clear market leader in the industry as envisioned by the Founder.”
About Williamsville Sears Management Inc.
Williamsville Sears Management is a diversified holding corporation that was formed by Mandla J. Gwadiso. The group operates its own assets through a range of subsidiary companies up under its purview. The group’s primary focus is in real estate, mining, media, transportation, entertainment and technology. The group uses vertical integration as a strategy of diversification and growth. The group plans to grow through acquisitions in Africa, United Kingdom and the United States.
Williamsville Sears Management actively seeks a select portfolio of high-calibre strategic subsidiaries which it acquires based on market trends and their ability to deliver strong returns to shareholders whilst enhancing the communities in which the investments are located.
About Femab Properties Limited
Femab Properties Limited is a limited liability company incorporated in the year 1999. The company is into full range of real estate development and allied services such as Technical Consulting, Civil & Engineering Construction, Projects Management, Facilities Management, Property Sales & Letting and Estate Development.
Being a dynamic company with seasoned professionals, Femab Properties Limited has single-handedly executed diverse real estate projects, some of which are: Dream Home Estate at Ikorodu, Peninsula Garden Estate at Ogombo – Lekki, Diamond Estate 1 at Sangotedo – Lekki, Lagos. The company is presently coordinating more upscale projects namely; Diamond Estate 2 at Sangotedo – Lekki, Platinum Gate Estate at Alaka – Surulere, Association of Nigerian Physicians in America (ANPA) in addition to federal and state government mass housing projects in Nigeria.
The company operates subsidiaries in Blockmaking, Quarry, Haulage and Logistics and has a strategic partnership with a reputable international Dredging firm. http://femabproperties.com/
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
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