Rewardle jumps 25pc as former Fairfax exec joins the board

Marketing and payments penny stock Rewardle Holdings jumped 25 per cent in early Thursday trade after a former Fairfax executive joined its board.

Rewardle (ASX:RXH) claims it connects 3 million members with 5,000 local businesses in Australia, combining “membership, points, rewards, payments and social media into a single cloud based platform powered by big data analysis”.

Rodney House has been appointed as a non-executive director of Rewardle. He was previously commercial director at Australia Community Media, a division of Fairfax Media, heading up regional sales.

“During his time with ACM, Rodney led a significant sales transformation program and was instrumental in the sales teams’ skill and digital capability development,” Rewardle told investors.

Its shares jumped 25pc to half a cent.

Rewardle Holdings (ASX:RXH) over the past year.

Mr House had been informally advising the company on “approaches to developing more consistent and higher sales performance”, so his appointment is not a surprise.

He replaces the outgoing Peter Pawlowitsch.

“The board changes reflect the company’s focus on commercialisation and operational efficiency, retaining the cost and agility benefits of a small board,” the company told investors.