News

Readen Holding Corp. Redirects focus towards core business

 

Readen Holding Corp. (RHCO.PK) has finalised the sales of the Castle Estate Altembrouck.    

                                                                                                          Press Release | 28/05/2019

 

READEN HOLDING CORP (RHCO.PK) announce that Readen Real Estate, a wholly-owned subsidiary of Readen Holding Corp. has finalised the sale of the Castle Estate Altembrouck in S. Gravenvoeren, Belgium, including the hotel operation.

 

READEN REAL ESTATE the property has been sold in two separate transactions. The first transaction being 44 acres of land has been sold to VERENIGING VOOR NATUURBEHEER NZW and the second part consisting of 60.000 sq. ft. property of Altembrouck has been sold to BRAVA HOLDING B.V.

 

The proceeds of these transaction will be utilised by Readen Real Estate in order pay back the mortgage loan to Triodos Bank thereby lowering down the interest expenses as well as in addition the funds will be utilised to expand and strengthening the retail divisions of both Neckermann webshop and D5avenue.com.

 

Kok Wai LEE the President of the company quote: “the decision to sell Altembrouck is a part of the company’s future strategy to concentrate on its core business of online retail, consumer products distribution (food and non-food) and our agriculture division.”

 

This press release may contain forward-looking statements, including but not limited to statements regarding Readen Holding Corporation and its plans, products and related market potential.

Forward-looking statements may be identified by the use of the words "anticipates " "expects" "intends" "plans" "should" "could" "would" "may" "will" "believes" "estimates" "potential" or "continue" including both variations or similar expressions.

These statements are based upon the current expectations and beliefs of management but are subject to certain risks as well as uncertainties that may cause actual results to differ materially from those described in the forward-looking statements.

These risks and uncertainties include, but are not limited to those discussed in Readen Holding Corporation's postings on the OTC Markets Disclosure & News Service and any future filings with the Securities and Exchange Commission, where factors are incorporated herein by reference.

Readers are cautioned not to place undue reliance on any of these forward-looking statements. Readen Holding Corporation undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

 

Contacts:

 

Readen Holding Corp.

Kok Wai LEE
+31 3562 99970
info@readenholdingcorp.com