Summary
- REFFIND Limited has decided not to pursue the possibilities for acquiring Loyyal assets.
- The Company has announced significant appointments to its leadership team.
- REFFIND remains committed towards further enhancing market opportunities for its WooBoard employee engagement platform.
Australia-based software-as-a-service solutions (SaaS) company REFFIND Limited (ASX:RFN) has decided not to pursue avenues for the possible acquisition of Loyyal assets.
Last year, the Company was engaged in discussions with Hayaat Group in connection to the acquisition of a 25% interest in the assets of Loyyal. During a bidding process, Hayaat emerged as the successful bidder for the assets of the Chapter 7 estate of Loyyal Corporation, and REFFIND entered negotiations with Hayaat, seeking to acquire up to 25% of the vehicle that would own the Loyyal assets.
New Appointments
In another development, REFFIND has appointed Mr Wesley Culley as an executive director to the Board. Mr Culley will replace Mr Declan Jarrett, who has retired to focus on his other endeavours. Mr Jarrett served as a director and secretary of the company for a period of around 2 years and 1 year, respectively.
Mr Culley adds a wealth of experience in digital marketing and SaaS to REFFIND. He is a founder and director of Launch Advisory, boutique advisory firm that assists technology and SaaS space players.
INTERESTING READ: Why is REFFIND’s (ASX:RFN) WooBoard Talk of the Town Amid Remote Working?
Furthermore, the Company has also appointed Mr Josh Quinn as Company Secretary, who is currently serving as a Non-executive Director of REFFIND.
These value adding appointments come at a time when the Company’s commitment remains on the development and marketing of its flagship peer-to-peer employee recognition and engagement platform, WooBoard.
IMPORTANT NEWS: How REFFIND’s (ASX:RFN) WooBoard Can Help Smash Employee Recognition Myths
REFFIND Tapping the Opportunity Amid COVID-19
REFFIND has been working towards enhancing the WooBoard platform and capturing the expanding opportunities resulting from the prevailing COVID-19 pandemic. Recently, the Company also roped in leading technology incubator FullStack Labs for enhanced software development services concerning its platform.
PREVIOUS UPDATE: REFFIND (ASX:RFN) Ropes in FSL to Upgrade WooBoard
The Company has informed that the upgraded version of WooBoard would include several features designed to further boost engagement with employees working remotely due to COVID-19.
REFFIND expects to be well placed to satisfy the growing market demand for employee engagement software. It seeks to tap the many opportunities arising from the changing work environments for employees amid transition by many large and small organisations in Australia and Internationally.
INTERESTING READ: How is REFFIND (ASX:RFN) WooBoard Revolutionising Modern Workplaces?
On 14 January 2021 (AEDT 1:5 PM), RFN share price quoted at $0.002 with a market capitalisation of $3.36 million.
