Australia's Rewardle Holdings hits 5-month high on stake buy in Splitpay

Rewardle Holdings

08/10/2021 01:58

** Shares of Rewardle Holdings  RXH.AX  jump as much as
169.23% to A$0.035 after co says it has acquired a stake in
Splitpay  
    ** Stock on track for steepest single-day percentage climb
since April 29; hits highest since April 29
    ** RXH, which is a marketing and payment platform that
provides services to "buy now, pay later" co Splitpay, said it
has agreed to forgo some professional fees in return for a
shareholding of 0.5% to 1%  urn:newsml:reuters.com:*:nASX9gt5W5 
    ** Co will forgo 3 months of professional fees for the
equity ownership, or about A$30,000 - A$60,000 in cash fees 
    ** Agreement to convert cash fees to equity may be extended
beyond the initial 3-month term 
    ** About 34.9 mln shares have been traded, vs the 30-day
average volume of about 312,000 shares
    ** Stock up 30% so far this year, as of last close 
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))