READEN HOLDING CORPORATION (OTC PINK: RHCO) ANNOUNCES A PROFITABLE SALE OF PRIME FRANCE REAL ESTATE
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced the sale of a prime France real estate which it has acquired earlier this year, to ANGELO MERMER MADENCİLİK LİMİTED ŞİRKETİ for the amount of EUR 2,070,000.
The 84 acres of prime real estate is located alongside the historic Rhone River, one of the most significant waterways of Europe and is the only major river flowing directly to the Mediterranean Sea. It can be developed to 690 houses, villas and apartments for sale and lease.
ANGELO MERMER MADENCİLİK LİMİTED ŞİRKETİ (www.angelovalentinomarble.com) is Turkey’s largest holder of marble reserves. In this transaction, RHCO has sold its 100% owned subsidiary Quentin S.A., which owns the real estate and has the license to build property on the land, to ANGELO. The amount of EUR 2,070,000 (approx. USD 2.4 million) will be paid by convertible bond of ANGELO, which will be converted at 50% discount into 200 shares of ANGELO. Based on the valuation report of Baker Tilly (one of the largest valuation firms in the world) as at 31 March 2021, those shares worth approximately USD 4.8 million.
Richard Klitsie, CEO of RHCO stated, “The acquisition of the real estate was a decision of previous management. Now by completing this transaction, we are not only making a sizable profit, but it would also make us a shareholder of a larger organization. This would allow RHCO to focus more in Fintech, Online Payment and E-commerce industries.”
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