NEW YORK, May 29, 2018 (GLOBE NEWSWIRE) -- Williamsville Sears Management Inc. (OTC Pink:WSML) (“WSML” or the “Company”) is pleased to announce today that the Company has completed all aspects of its satisfactory due diligence review of the previously announced acquisition of Femab Properties Limited from Parent company FPL Holdings Inc. and Williamsville Sears will commit the necessary resources to conclude this transaction in the next few weeks. This transaction marks the very first of a few targets that Williamsville Sears is currently reviewing which the company plans to consummate upon the conclusion of satisfactory due diligence.
Amanda J. Wester, the Chief Financial Officer of Williamsville Sears, stated: “Femab Properties Limited is part of a strategic plan for the diverse acquisitions to come from Williamsville Sears Management, Inc. Upcoming projects include not only upscale housing, but also government housing projects in Nigeria. This combination of these focused projects is in line with our mission of delivering shareholder value and community outreach. We look forward to completing this transaction in coming weeks.”
The Chairman & CEO of Williamsville Sears Management, Inc., Kent A. D. Clark stated, “We see this acquisition as hugely beneficial, not only to our company but to the WSML Portfolio. By adding Femab Properties Limited this shows our strong support to the building of Africa and assisting its Citizens with obtaining a better quality of life for generations to come. We look forward to more acquisitions and the multiple opportunities moving forward. I personally look forward to revisiting Africa soon to engage our soon to be subsidiaries and view the movement of our current projects.”
Mr. Abiodun Aguda, Chairman & CEO of FPL Holdings, added: “This represents an historic achievement as Femab Properties Ltd formally joins the high performing conglomerate William Sears Management Inc. to further enhance strong performance and return superior earnings to our shareholders.”
“Femab Properties’ vision to become a market leader in the real estate industry has just been materialized as Williamsville Sears, the holding company, is committed to mull adequate resources to implement various projects spread across the nation and Africa at large.”
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/
Forward-Looking Information: Cautionary Note: 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.
