PANAMA CITY BEACH, Fla., Sept. 16, 2013 /PRNewswire/ -- Today, JP Anderson, Ltd., subsidiary to Leone Asset Management, Inc., (Pink Sheets: SLOU) announced it would be developing the West Africa Over the Counter Market System.
JP Anderson, Ltd., has formed a new subsidiary, West Africa OTC, Ltd., that will operate the West Africa Over The Counter Market System. The new entity will organize, assist and service the small and emerging companies that are operating in the fast growing markets within West Africa.
James Price, CEO of JP Anderson stated, "To fully stimulate the economic growth of the region, we need to start with the small business owner. Supplying him with capital, managerial advice, support and the expansion tools needed to fully execute his business plan will have a tremendous impact on employment, skill training and economic growth. At the same time, it is imperative to host a regulated marketplace that is fully transparent, investor protective and possesses strict listing and trading requirements."
Our research shows that the entire West African region has thousands of companies that possess new and innovative products and services. These companies, like companies that operate in more developed markets, need access to capital for growth and expansion. Assisting these small and emerging companies with their growth plans will bring huge economic stimulation to their local markets by creating jobs and encouraging foreign trade and investment. In addition, we will seek to attract foreign companies that desire to enter these markets with their products and/or services and give them the support needed to list shares on the WAOTC. As of now, foreign investors have limited access to information about these companies or the ability to invest in the companies that are appealing to them or fit into their respective portfolios. This new initiative will provide the gateway for investors, fund managers, investment banks and broker/dealers all over the world to participate in the growth of West Africa's emerging markets.
Typically, companies sell their securities in public marketplaces to raise capital, complete an acquisition or provide liquidity for existing shareholders to exit their investments. Qualified companies will be able to issue and sell shares in the market pursuant to the WAOTC safe-harbor guidelines.
The WAOTC marketplace will represent West African public companies that are traded off their local exchanges. Companies must qualify for listing and be current in their financial disclosure. Investors in the WAOTC marketplace can buy and sell securities in a manner almost identical to that of trading on other World Exchanges like the NYSE or NASDAQ. Investors will have the ability to trade through the broker of their choice (institutional, online, retail, etc.).
The WAOTC database will be a designated web portal www.waotc.org where all listed OTC companies will be required to maintain accurate and transparent corporate information for full investor disclosure. Companies that do not follow the strict guidelines will be penalized and investors will receive warnings about inadequate or non-current disclosure.
The WAOTC Compliance division will regulate companies and broker/dealers who list and trade on the WAOTC. The operation of the portal and the system will follow all participating country securities laws including licensing, listing requirements and disclosure laws. It is our full intent to work within all applicable guidelines of all securities laws while at the same time assisting the countries in bolstering economies and providing investor protection measures to insure trust and transparency. Essentially, the WAOTC is being designed as a stepping-stone for the smaller company to develop to the level that they will be able to qualify and list on their local Country Exchanges. This initiative will assist in increasing the size and activities of each respective exchange.
To properly service the companies wishing to partner with and list on the WAOTC, JP Anderson intends a rapid expansion throughout the region. Currently, JP Anderson is headquartered in Sierra Leone, has recently incorporated in Ghana and has plans to expand office locations and begin all necessary licensing requirements in Gambia, Guinea, Senegal, Liberia, and Mauritania before the end of 2013.
About Leone Asset Management
Leone Asset Management is Headquartered in Panama City Beach, FL. Sierra Leone subsidiary, Leone Asset Management (SL) Ltd., operates as a Government contractor as well as owning and operating a group of diversified subsidiaries that provide financial advice on individual wealth management, mergers, acquisitions, restructurings, financing, real estate and development, and capital raises to a global client base including individuals, corporations, partnerships, institutions and governments. For additional information, visit: www.leoneasset.com
About JP Anderson
Headquartered in Freetown Sierra Leone, JP Anderson (SL), Ltd., intends to be the World's premier boutique investment banking, securities and investment management firm focused on providing financial advice on individual wealth management, mergers, acquisitions, restructurings, financing and capital raises to a global client base including individuals, corporations, partnerships, institutions and governments. Currently, JP Anderson has office locations in Sierra Leone, Norway and Sri Lanka. For additional information, visit: www.jpawealth.com
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will" and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
SOURCE JP Anderson