Readen Holding Corp. (OTC: RHCO), a diversified holding company, today announced that the Company has signed a definitive agreement to acquire $3.3 million of common stock in a U.S public company, yet to be named. RHCO will receive 2,262,455 shares of restricted common stock, which closed on Friday at $1.49 per share. Additional terms of the deal were not disclosed.
Last week, RHCO announced that its Board of Directors had approved a major share
buyback program. The goal of the share buyback program is to significantly reduce the total outstanding shares of common stock of RHCO. Under the buyback program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions, block purchases, fixed price tender offers, or otherwise, in accordance with applicable federal securities laws. The Company intends to pay for share repurchases using a variety of methods, including cash, preferred shares, shares in subsidiaries, debt and with other resources at its disposal. RHCOs management categorically states that no convertible or toxic debt will ever be used to fund its share buyback program.
Last month, RHCO announced that it had completed its acquisition of leading Payment Gateway and Payment Service Provider (PSP) OkePay New Zealand and its subsidiary OkePay Asia Limited ( www.okepay.biz ) and with that, has officially entered the $4.7 Trillion Global Payment Market. RHCO paid $13 million for the purchase of Okepay in cash and stock. With its acquisition of OkePay, RHCO has achieved its goal of becoming a major participant in the online and POS payments sector.
Richard Klitsie, CEO of RHCO stated, I am extremely pleased to announce the signing of this latest equity acquisition. It proves once again, that our strategy of timely and cost- efficient acquisitions is truly paying off and that the Company is enhancing shareholder value step by step and day by day.
Readen Holding Corp. (OTC: RHCO), a diversified holding company, today announced that its Board of Directors has approved the Companys share buyback program. The goal of the share buyback program is to significantly reduce the total outstanding shares of common stock of RHCO. Under the buyback program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions, block purchases, fixed price tender offers, or otherwise, in accordance with applicable federal securities laws. The Company intends to pay for share repurchases using a variety of methods, including cash, preferred shares, shares in subsidiaries, debt and with other resources at its disposal. RHCOs management categorically states that no convertible or toxic debt will ever be used to fund its share buyback program.
Richard Klitsie, CEO of RHCO stated, I am extremely pleased to announce the commencement of our long-awaited and eagerly anticipated share buyback program. The Company is fully committed to share reduction and the enhancement of shareholder value.
Readen Holding Corp. (OTC: RHCO), a diversified holding company, today announced
that it has acquired 84 acres of prime real estate alongside the historic Rhone River in
France. The Company plans to develop 690 houses, villa’s and apartments for sale and
lease. The Rhone River one of the most significant waterways of Europe and is the only
major river flowing directly to the Mediterranean Sea. The purchase price for the
property was 15 million shares of RHCO’s preferred stock, valued at $2,250,000.
RHCO’s proposed development will be a fully integrated Total Care facility, which will
include state of the art wellness centers, sports and recreational facilities, first class
medical care, all in a thoroughly secured environment. The Company believes the project
has the potential to be extremely profitable and could realize twice the total investment.
Richard Klitsie, CEO of RHCO stated, “I believe this investment fits very well with the
Company’s plan to create a solid long term pipeline of real estate investments, alongside
the businesses of fintech, and retail.”
RHCO is a diversified holding company, with an operating history of over 30 years,
which seeks opportunities to acquire and grow businesses that can generate long-term
sustainable free cash flow and attractive returns, in order to maximize value for all
shareholders. RHCO has subsidiaries and liaison offices in Europe and Asia.
Hilversum, Netherlands--(Newsfile Corp. - February 23, 2021) - Readen Holding Corp. (OTC Pink: RHCO), a diversified holding company, today announced that it has launched its proprietary e-Voucher, READIES ( ), across 24, 000 retail stores in Europe. READIES eVoucher will be targeted towards consumers who prefer to protect their privacy and security when engaging in online retail, gaming, gambling and the adult entertainment industry. This unique payment solution will resolve issues for merchants, who previously have been unable to receive traditional online payments, due to the nature of their industry. This unique product offering will also address and provide online access to the 30% of eligible participant's globally that do not have a Credit/Debit Card. READIES infrastructure is supported RHCO's recent acquisition, OkePay ( ), a leading Payment Gateway and Payment Services Provider (PSP), which will service READIES user's online purchases, retail store sales and participating merchant redemptions.
RHCO believes that with the launch of READIES, the Company can become a major player in the global gaming industry, which, is expected to reach a value of $170 billion by the end of this year, exceeding previous forecasts by as much as 50%.
Richard Klitsie, CEO of RHCO stated, "I am thrilled that we have been able to launch READIES so soon after our acquisition of OkePay. The Company is now a major step closer to being an integral participant in the $4.7 Trillion Global Payment Market. With client acquisition being pivotal to our success, READIES certainly provides that explosive growth."
RHCO enters the US$ 4.7 Trillion payments market
RHCO announced today, as they enter the US$ 4.7 trillion (2020 estimates) payments market, that it has concluded the purchase of OkePay New Zealand and its subsidiary OkePay Asia Limited. The deal includes the purchase 100% of OkePay NZ from private individual shareholders for US$ 1 million in cash and 75 000 000 RHCO shares with an equivalent of US$ 12 250 000.
OkePay is a Payment Gateway and Payment Services Provider (PSP) that solidifies RHCO’s goal of being unavoidable to the merchant and a major participant in the online and POS payments sector. OkePay’s infrastructure will support the imminent launch of a game changing eVoucher, READIES, that will be available across 24 000 retail stores in Europe. This eVoucher will be targeted towards consumers who prefer to protect their privacy and security when engaging in online retail, gaming, gambling and the adult industry. This unique payment solution will facilitate merchants who have been unable to receive online traditional payments, due to the nature of their industry. This unique product offering will also address and provide online access to the 30% of eligible participant’s globally that do not have a Credit/Debit Card.
Mr. Richard Klitsie, CEO, said ‘We are very pleased to conclude this deal with OkePay NZ. As we drive our business forward and as we seek a structured balance between short-term revenue and long-term outperformance multiples, this purchase brings considerable strength in licensing in the FATF jurisdictions of New Zealand and Hong Kong. As we focus on our client acquisition strategy and strengthen our digital marketing capabilities our next goal is to seek further acquisitions in the sector’.
RHCO announces LOI for the purchase of OkePay New Zealand
RHCO announced today, as they enter the US$ 4.7 trillion (2020 estimates) payments market and on the strength of a European PSP License, that they have signed a Letter of Intent (LOI) for the purchase of OkePay New Zealand and its subsidiary OkePay Asia Limited. The LOI outlines RHCO’s offer to purchase 100% of OkePay NZ from the private individual shareholders for US$ 1 million in cash and 75 000 000 RHCO shares.
OkePay is a go-to payment gateway solution that enables a merchant to accept all major payment methods which is supported by an easy integration process and active support team.
RHCO see this acquisition as an ideal springboard to launch two proprietary products which are currently in the ‘testing’ phase of development and due for imminent release. These products will not only boost the merchant’s revenue but the zero-commission merchant strategy and will add to OkePay’s daily increase in merchant acquisition.
Mr. Richard Klitsie, CEO, said ‘We are very pleased to sign this LOI with OkePay NZ. As we continue with our restructuring and aggressive growth strategy, our innovative approach through the development of our proprietary products will strengthen our goal to challenge and be real competitor’. He went on to say ‘Our strength in the payments sector will produce a network effect as we transition our traditional retail business Neckermann Direct (Benelux) from an online store to an eCommerce platform, with payments at the core’.
RHCO increases shareholding in Hitting Media and changes name to OKEY MEDIA.
In 2017 RHCO acquired a 30% interest in Hitting Media for 500 000 shares. In this transaction RHCO will own 100% of the shares in Hitting Media for an additional 2 000 000 Restricted Shares in RHCO, and undergo a name change to Okey Media.
With its target marketing technology, it is able to pinpoint potential customers and provide personalized advertisements in order to achieve higher conversion rates than competing service providers. Delivering effective target marketing is most valuable for the introduction new and existing brands in reaching their potential customers. These campaigns are delivered using the low cost-per-mile technology.
The technology of the new Okey Media will be used by Neckermann and the online activities of RHCO’s participating companies in order to accelerate the adoption of our products for a lower cost to our customers and will expand the business to a licensing model for Asian online merchant activities targeting the European markets.
RHCO finalizes the acquisition of 2% Group
RHCO is pleased to announce the completion of our acquisition of Two Percent Group. Due to their well-established household name, we will be utilizing them as our comprehensive platform to service the Asian Market. While we anticipate additional annual sales between $10-$15 million for the Asian Market for the first year with a projected growth of 30% to 50% for the following year. Our near-term outlook focused on brands including Levi's, Adidas, Puma, Dior, Chanel, Valentino and several others will produce higher profit margins due to a lower return rate. Existing brands under the previous 2% group will still be designed and produced, however we are taking the current opportunity to shift the 2% platform to better serve the growing demand for European fashion and body care products throughout Asia.
At the same time, we will continue to expand our European retail opportunities and we will be able to use our new Asian 2% platform as a catalyst for our European activities too.
Quote Kok Wai LEE CEO of the company: “We are very pleased with the way projects are taking form, and while we understand everybody is eager for additional details, please know we are extremely busy with all the required legal parties to finalize the required legislation. We have huge plans in place and we expect Q3 and Q4 of this year to show growth unlike we have seen before.”
RHCO signing an LOI to take over 2% Group
RHCO announces the signing of a letter of intent to take over the Two Percent Group including all associated brands and license
Readen Holding Corp, has officially begun its transformation process under new management. The company has signed letters of intent to purchase 2% WIP GROUP (Hong Kong), 2% WIP GROUP (China) and 2% WIP GROUP (Taiwan). The transaction will be facilitated by the issuing of new restricted stock under rule 144.
The 2% WIP GROUP is a highly popular and well-established international fashion company whose fashion brands are some of the hottest brands in China and Europe. WIP HOMME, Boy London, ODF Clothing, 2 Percent and others are all well-known and highly respected fashion brands in Asia. Additionally, Readen Holding has obtained licensing rights in parts of Asia for the globally recognized MIFFY and of the popular brand Boy London. MIFFY currently has a retail earnings power of approximately $300 million annually and Readen is excited to have secured the licensing rights to MIFFY in various parts of the Asian market.
RHCO deploys proprietary software
RHCO has decided to focus Hitting Media, the marketing software that was acquired recently, solely on its own e-commerce platforms.
Hitting Media BV specializes in targeted market advertising software developed in-house and successfully used in branding campaigns by renowned corporations such as McDonalds and Shell as well as branches of the Dutch Government including the Police Force as well as the Ministry of Defence in order to deploy venue targeting during events.
The use of this specialized software has resulted in a broad marketing reach at a vastly reduced cost due to the low CPM (cost per thousand impressions).
As of now READEN HOLDING CORP (RHCO.PK) has decided to no longer offer these services for external customers but to focus them solely on its own e-commerce platforms concentrating on marketing and branding campaigns pertaining to ventures owned by Readen Holding Corp enabling us to expand them at a much lower cost, deploying product offers with a higher conversion rate due to the enhanced targeting possibilities.
Quote Kok Wai LEE CEO of the company: “We’ve finally been able to optimize the software to a point where we can use it easily and quickly for multiple marketing activities. We are currently planning a massive marketing campaign for our upcoming expansion towards the Asian market. Meanwhile we will continue deploying additional marketing activities through our Hitting Media software for our Neckermann and D5Avenue webshops.”