Readen Holding Corp. (PINKSHEETS:RHCO) Signs a Letter of Intent for the Purchase of Altembrouck Estate
June 05 2012 - 9:41AM
Marketwired
READEN HOLDING CORP. (PINKSHEETS:RHCO) announced that Readen Real
Estate, a wholly-owned subsidiary of Readen Holding Corp. signed
today a letter of intent for the purchase of the castle estate
Altembrouck in Gravenvoeren, Belgium.
READEN REAL ESTATE purchased 55 acres of land and the 60.000 Sq
ft property Altembrouck for the amount of 8.500.000 dollars and 7
million new issued (rule 144) common shares of RHCO and another 6
million shares (rule 144) for the operational company Altembrouck
BVBA which includes the goodwill, furniture, interior and live
stock (Wagyu cattle, Magalitza hogs and Korohitsu lambs).
The appraisal report made in 2011 noted a value of $
16.500.000.
There will be a mortgage arrangement signed with the Triodos
bank in the Netherlands for the $ 8.500.000 dollar to close this
transaction.
Readen Real Estate committed to invest a further 2 million USD
to finish the development of the estate as well as the completion
of the new wing of the hotel which will include an additional 20
rooms and a wellness centre. Readen Real Estate's projects
Altembrouck and Beemster vastgoed (see previous press release) will
contribute to the group revenue an estimate of 4.500.000 dollars in
the next 12 months.
Hidden in the woods and between the hills of the Belgian border
region, Chateau Altembrouck is an oasis of natural peace, with a
historic atmosphere and style associated with an 18th century
castle. Just a few minutes away from Maastricht, Aachen and Liege,
the castle is ideally located. From the gatehouse a long driveway
winds past ponds with black swans to the castle which dates from
1314. Altembrouck, in the seventeenth century, was a beautiful
resort, where the local nobles and royal families retreated to
spend their summers. Altembrouck presently, is a truly
multifunctional estate.
The innovative agricultural developments surrounding the castle
are an inspiring background which makes the castle a unique
location. The breading and sales of Waygu cattle adds an additional
source of income for the resort. (See www.wagyu.net).
The castle area on the estate can be rented in its entirety on
an exclusive basis for business purposes or receptions for all
kinds of festive occasions, where privacy is guaranteed.
Altembrouck offers an unparalleled setting for seminars, product
presentations, receptions, weddings, dinners and private dining.
Luminous spaces are available for small and larger groups.
A presentation in the spotlight of the large orangery, a
symposium in historic rooms, a private party in our coach house, an
underground reception in the vaulted cellars or an inspiring
business lunch in the newly renovated Winter garden, A Wellness and
leisure Area, Altembrouck makes it all possible.
If you stay overnight, you wake up in one of the 33 spacious
guest rooms, there will be an additional 15 rooms available after
the renovation to the Hotel.
Ronald Steenbergen president of the company quote:
"The synergy between this new field of business and our existing
investments are more then you will expect in the first instance.
After the acquisition is finalized, Readen Holding Corp. will
announce their operational plans for the estates that will include
among others a state of the art sound studio to facilitate On-Mix
the companies entity responsible for the musciplatform." Ronald
Steenbergen finds it too early to publish all details at this
moment but it will be a perfect match for some of the company's
other investments.
http://www.altembrouck.net/ukhttp://www.readenholdingcorp.com
This press release may contain forward-looking statements,
including, but not limited to, statements regarding Readen Holding
Corporation and its plans, products and related market potential.
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" and variations or similar expressions.
These statements are based upon the current expectations and
beliefs of management and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to, risks and
uncertainties discussed in Readen Holding Corporation's postings on
the OTC Markets Disclosure & News Service and future filings
with the Securities and Exchange Commission, which 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. Ronald Steenbergen +31 3562
99970info@readenholdingcorp.com
Readen (PK) (USOTC:RHCO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Readen (PK) (USOTC:RHCO)
Historical Stock Chart
From Jul 2023 to Jul 2024