Williamsville Sears Has Executed Its Second Definitive Acquisition Agreement For the Outright Takeover of Royal Systems & Services Limited
NEW YORK, June 25, 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 Royal Systems & Services Limited in Ghana.
On August 1 2017, Royal Systems signed a 23-year “BOOT”- Build, Own, Operate, and Transfer- agreement with Takoradi Technical University (TTU), located in Takoradi, the Western Region of Ghana, to construct a student hostel. The Takoradi Technical University Hostel is a ~3000-bed student hostel project designed to support the university house s section of its student population to be admitted to a new satellite campus under construction. The facility is designed to be an ultra-modern state of the art structure using advanced building technology and will be located on an 8.0-acre land within the school campus.
Construction works began in January 2017 and the first phase, a 1000-bed block is expected to be complete in December 2018 before the beginning of the first academic year on the new campus. The project after completion will help immensely to plug the perennial accommodation deficit facing the school, also provides the unique opportunity for Royal Systems to expand its existing operations into the student hostel real estate subsector, a very profitable market in Ghana. As Ghana’s tertiary population keeps growing, we are confident that this project will generate sustained real return into the future to satisfy our investors. We are also conscious of the relief it provides to improve the welfare of the student population of the university.
Royal Systems & Services Limited is a fully diversified service provider that has 6 divisions, Telecommunications, General Civil Construction & Design, Alternative Power Supply, Material Supplies, Student Accommodation and Mining Services. Royal Systems counts Huawei, Vodafone, Eaton Towers, Helios Towers, Airtel, Tigo, Societe Generale, ATC Ghana, Tigo, and Eco Bank among its long term clients in its Telecommunications Division. https://www.youtube.com/watch?v=6erQkC1Guuo
As filed on FORM 8K with the Securities and Exchange Commission on June 25, 2018, the terms of the agreement are available as an exhibit.
Amanda J. Wester, the Chief Financial Officer of Williamsville Sears, stated: “We are pleased to welcome Royal Systems to the Williamsville Sears Management Inc. family. Royal Systems is undertaking high demands for university housing for students which benefits the student, the economy and our shareholder.”
The Chairman & CEO of Williamsville Sears Management, Inc., Kent A. D. Clark stated, “Today is a great day for WSML and our Partners. We are expanding our global reach and continuing to improve the quality of life of the community’s in which we serve. Today we are expanding the housing for future generations of students. I look forward to visiting this project and many others soon on behalf of our Shareholders and Partners. We welcome Mr. Samuel Quadjie, Founder & CEO of Royal Systems to our Family of Subsidiaries today.”
Mr. Samuel Quadjie, Founder & CEO of Royal Systems, added: “We are highly excited to join the Williamsville family and be part of something great which we believe will help Royal Systems to reach for even higher heights. I look forward to working with the Williamsville leadership, Kent A. D. Clark, David Smith and Amanda Wester.”
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. www.williamsville.us
About Royal Systems & Services Limited
Royal Systems & Services Limited builds and installs telecommunication infrastructure as well as provides civil engineering services. The company provides safe equipment for staff at construction site. The company’s services includes installation of telecom site equipment and electrical systems, including planning, implementation, and final handing over; telecom tower erection and maintenance for transmission equipment and power systems; and providing construction equipment and materials for construction work. The company was founded in 2007 and is headquartered in Accra, Ghana. https://royalsystems.com.gh/
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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