READEN HOLDING CORPORATION (OTC PINK: RHCO) ANNOUNCES A NEW PARTNERSHIP WITH ASIAN POS SUPPLIER ROKA SERVICE
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 100% owned subsidiary Oke Partners have signed a Collaboration Agreement with Roka Service, a leading ePOS and eMenu service provider in Asia. The strategic partnership would instantly integrate existing Roka Service’s merchants into OkeApp, RHCO’s newly launched discount referral app (www.okepartners.com).
Established in 2015, Roka Service (www.roka.com.hk) has developed the popular eMenu, the world's first business sales system with standardized cloud solution. It was specially designed for iPad, iPhone and Android devices as a high-end hardware-free smart cloud application product, focusing on saving merchants’ operation costs, labor costs and improve service quality. Merchants such as retail shops, restaurants, beauty salons can be benefited as the entire operation process can be controlled using a mobile device. eMenu are widely used by more than 500 merchants in Hong Kong, and also used globally by merchants in Japan, Taiwan, Malaysia, South Korea, Spain, China, Singapore, France, Thailand, Vietnam and United States.
The collaboration will allow Roka Service’s merchants to join OkeApp platform seamlessly. OkeApp targets to sign up 8,000 to 10,000 new merchants within the next twelve months in Hong Kong, which will eventually bring 4 million payment transactions per month. With this strategic partnership with Roka Service, OkeApp can speed up the process of signing up merchants. In addition, both parties are also looking into more areas of collaboration regarding online payment and E-Commerce.
RHCO also announced today that its Board of Directors has approved the Company’s share buyback of 10 million old shares at the price of $0.08 per share. The old shares were issued through an earlier transaction in 2013. The purpose of the share buyback is to significantly reduce the total outstanding shares of common stock of RHCO. The buyback was done by privately negotiated transactions in accordance with applicable federal securities laws.
Currently RHCO is labeled a Yield Sign (Pink Limited Information) on the OTC Markets, due to an adjustment of the lawyer opinion letter. As all new information has been filed, RHCO is expecting the Yield Sign to be taken off very soon.
Readen Holding Corp. (www.readenholdingcorp.com) is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;
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.
For further information please contact RHCO at info@readenholdingcorp.com
or +852 3950 5911
The RHCO corporate email address is info@readenholdingcorp.com
The RHCO corporate website can be accessed at www.readenholdingcorp.com
The RHCO Twitter account can be accessed at https://twitter.com/readenrhco
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.
Contact
Readen Holding Corp.
info@readenholdingcorp.com
+852 3950 5911
Readen Group, RHCO announcement