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Oct 23, 2019 7:40 AM ET

Readen Holding Corp. (RHCO.PK) Announces the Signing of a Letter of Intent to Take Over the Two Percent Group Including All Associated Brands and Licenses


iCrowd Newswire - Oct 23, 2019

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.

www.twopercent.com.tw
www.boylondon.com
www.odfclothing.com

We anticipate launching our new low-cost fashion platform under the newly acquired brand name within the next 30 days. Due diligence is currently in the final stages and the official closing of this transaction is anticipated within the next 10 days. 

Kok Wai LEE, CEO: “We are now poised at furthering our deployment into Asia and Europe with the acquisition of these well-known and established brand names, along with their agencies and licenses. 2% is much more than a brand name, it is familiar to an Asian Pacific generation born in the 1980ʼs and 90ʼs and is firmly embedded within their memories. In addition to the expansion, I am also happy to announce that I have been working closely with our accountants and lawyers to get the necessary documents filed to become OTC current within the next thirty days. Additionally, once current, we will be looking to uplist to the OTCBB Tier. I am very grateful for the opportunity to work with our new team; together we will build up a brand new platform propelling Readen Holding Corp. forward.”

Forward-looking statements may be identified by the use of the words “anticipates ” “expects” “intends” “plans” “should” “could” “would” “may” “will” “believes” “estimates” “potential” or “continue” including both variations or similar expressions.

These statements are based upon the current expectations and beliefs of management but are subject to certain risks as well as uncertainties that may cause actual results to differ materially from those described in the forward-looking statements.

These risks and uncertainties include, but are not limited to those discussed in Readen Holding Corporation’s postings on the OTC Markets Disclosure & News Service and any future filings with the Securities and Exchange Commission, where factors are incorporated herein by reference.

Readers are cautioned not to place undue reliance on any of these forward-looking statements. Readen Holding Corporation undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

 

Contacts:

Readen Holding Corp.

Kok Wai LEE

+31 3562 99970

[email protected]

Contact Information:

Readen Holding Corp.
Kok Wai LEE
+31 3562 99970
[email protected]








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