Update re: Litigation (Case No. A-24-895943-C, Eighth Judicial District Court, Clark County, Nevada)

Update re: Litigation (Case No. A-24-895943-C, Eighth Judicial District Court, Clark County, Nevada)

Readen Holding Corp. (RHCO) previously disclosed a lawsuit filed against shareholder Richardus Martinus Jacobus Klitsie (also known as Richard Klitsie) seeking return or cancellation of approximately 53.41 million restricted shares of the Company’s common stock (Certificates CS1-6401 and CS1-6404) issued pursuant to a 2021 Share Purchase Agreement and Okepay NZ Acquisition Agreement. Under those agreements, Mr. Klitsie was required to assume certain debts and make payments to a third party (guaranteed by RHCO) within 12 months; he allegedly failed to do so.
The case was dismissed on or about March 12, 2025, due to issues with prior legal counsel (not on the merits).
The Company has retained new counsel and is preparing to promptly refile or seek appropriate relief to vigorously pursue the claims.
The shares remain subject to an administrative hold with the transfer agent. The Company does not expect the litigation to have a material adverse effect on its financial condition beyond customary legal expenses. The Company will provide further updates as material developments occur.

Statement from Ridzky Berg, CEO of Readen Holding Corp.(RHCO)

We have now appointed new counsel and are taking immediate steps to continue the case and resolve this matter properly. The shares remain on administrative hold with the transfer agent. We are confident in our position and committed to protecting the Company and all shareholders.

Ridzky Berg CEO Readen Holding Corp. May 2026