13 Dec 2021
Readon Holding Corporation (OTC Pink: RHCO) Announces New Management Stock Option Plan
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that its Board of Directors has approved grants of a total of 8,200,000 incentive common stock options to several directors and top management of the Company.
RHCO’s new stock option plan (the "2021 Option Plan") consists of an aggregate of 8.2 million conditional stock options of the Company. The options have an exercise price of $0.05, vest over the next 12 months and expire on November 10, 2031. Stock options granted under the 2021 Option Plan may be granted for a term not exceeding ten years following the date of grant thereof. As of today, the exercise price $0.05 of the 2021 Option Plan is equal to a 28% discount off the average of the 60 days’ closing prices of RHCO shares from Sep 20 to Dec 10, 2021.
RHCO also announced today that it has stopped its private placement offering through London-based investment firm Aurelia. In June 2021, RHCO signed an exclusive placement agreement with Aurelia which would assist RHCO in the placement of the Company’s private placement shares. The Company will announce soon a new arrangement with another placement agent for future funding initiative.
Richard Klitsie, CEO of RHCO stated, “The Board of Directors in RHCO is please to announce this new stock option plan. The Company has the ambition to promote key members to achieve excellency and ensure that RHCO has a competitive compensation structure in order to recruit and retain experienced and highly qualified senior management.”