TIDMRGG
RNS Number : 1022W
RentGuarantor Holdings PLC
08 December 2023
8 December 2023
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
Annual Activities Review
RentGuarantor (AQSE: RGG) , a provider of rent guarantee
services to prospective tenants across the socio-economic spectrum
wishing to rent property in the UK private rental sector, is
pleased to mark the second anniversary of its listing on the Aquis
Stock Exchange ("AQSE") with a summary of its activities during the
2023 calendar year.
Highlights:
-- RentGuarantor has seen an increase in application numbers by
56% year-on-year compared to 2022.
-- The Company reported its interim results for the period ended
30 June 2023 ("H1 2023"), which saw an increase in revenue of 79%
on the comparative six-month period in 2022.
-- RentGuarantor signed key strategic contracts with:
o Clever Student Lets
o X1 Property Management Ltd
o Vorensys Limited
o InsureStreet Limited T/a Canopy ("Canopy")
o Let Insurance Services Ltd T/a The Lettings Hub ("The Lettings
Hub")
-- In addition to these strategic contracts, the Company also
signed partnership agreements with a total of 42 letting agent
entities or groups during 2023.
-- During the year, RentGuarantor advanced the capabilities and
performance of its website, which now has the handling capacity of
1,000 applications per minute. The Company implemented a new
internal technology system from HubSpot which will allow for the
more efficient management of company data.
-- Peter Keith Coleman and David Cliff were both appointed as
Non-Executive Directors, bringing a wealth of experience across
various sectors to the Board.
-- RentGuarantor was officially invited to join the Apex segment
of the Aquis Stock Exchange, reflecting its strong performance on
AQSE and its commitment to upholding high levels of corporate
governance and transparency.
-- The Company attended 54 conferences and events throughout the
year, expanding industry and investor awareness for the
RentGuarantor service.
-- The Company's highly successful year has been recognised
through its nomination as 'Aquis Company of the Year' at the 2023
Small Cap Awards, and its accomplishment of reaching the final of
the 2023 Aquis Showcase, where Paul Foy, CEO of RentGuarantor,
presented on the Company to a large audience of investors, brokers,
and advisors.
-- RentGuarantor released its 'Moving Stories' campaign this
year, which served to reinforce the importance of the service and
highlight the wide array of people that it can help support. You
can view the short film here: https://youtu.be/_6MkfGIlyQ0
-- RentGuarantor appointed two new corporate brokers in October,
Zeus Capital and Oberon Investments.
Reflecting on the year, Paul Foy, CEO of RentGuarantor,
said:
"It is a pleasure to, once again, commemorate the anniversary of
RentGuarantor listing on the Aquis Stock Exchange with a summary of
our activities throughout 2023. Upon listing on AQSE two years ago,
we formulated a primary goal for what we wanted to achieve as a
public company, which was to help advance growth and accelerate the
business. The activities of the past year have proven that we
continue to make significant progress, and, in that regard, the
strategic move of listing has been validated.
"The year has been underpinned by a strong demand for
collaboration with our service. We have entered into key contracts
with Clever Student Lets, X1 Property Management Ltd, Vorensys
Limited, Canopy, and The Lettings Hub. Working closely with these
partners, we look forward to integrating our respective systems and
offering their tenants the option of a guarantor. It's always been
our view that an effective rental sector should be underpinned by
technology-driven solutions that serve the breadth of the rental
value chain; I am pleased that our partners share this
approach.
"With an increase in demand came the need to enhance the
capabilities of our website. Further investment in our technology,
including the implementation a new internal system from HubSpot,
has facilitated improvements in the efficiency of our data handling
and futureproofed the platform - the website now has a capacity of
1,000 applications per minute.
"I'm delighted by the award nominations and invitations that
we've received this year in recognition of our innovative service
and strong performance. The 2023 Small Cap Awards and 2023 Aquis
Showcase featured leading companies in an array of sectors, and our
inclusion in the finals was testament to the reverence of
RentGuarantor in the investment space. To also be invited to join
the Apex segment of AQSE is a further display of confidence in our
ability to grow whilst upholding the highest levels of corporate
governance and transparency. Apex features larger, more established
businesses, enforcing stricter eligibility criteria to encourage
greater liquidity, and we are now fully optimising this.
"During 2023, we also welcomed the additions of Peter Keith
Coleman and David Cliff to the Board as Non-Executive Directors.
Peter's background includes almost 10 years in the mortgage
brokerage industry and over 25 years in IT consultancy. Peter was
awarded an MBE for IT services to the Foreign and Commonwealth
Office in 1991. David Cliff, a Professor of Computer Science at the
University of Bristol, has previously worked in cutting-edge
technology research and complex risk for Hewlett-Packard Labs and
Deutsche Bank London. We are grateful to have the opportunity to
tap into their collective expertise, from which they've both
previously advised major international companies and government
departments, as we move into the new year.
"As we look to 2024, myself and the entire management team are
excited to further progress as a listed company, and anticipate
another highly successful year with new partnerships and an
increased demand for our service. I would like to thank our
shareholders for their continued support, and I wish you a very
merry Christmas and a happy new year."
Ends
For further information please contact:
RentGuarantor Holdings PLC
Paul Foy, Chief Executive Officer
+44 207 193 4418
Alfred Henry Corporate Finance Limited (AQSE Corporate
Adviser)
Nick Michaels
Maya Klein Wassink
+44 20 3772 0021
Zeus (Joint Broker)
Simon Johnson (Corporate Broking)
James Hornigold (Investment Banking)
+44 203 829 5000
Oberon Capital (Joint Broker)
Mike Seabrook
Nick Lovering
+44 (0) 203 179 5300
BlytheRay (Financial PR)
Tim Blythe
Megan Ray
+44 207 138 3204
About RentGuarantor
RentGuarantor provides a rent guarantee service to tenants
wishing to rent property in the UK from the Private Rental Sector
("PRS"). It is an online service where applications are managed on
a secure and bespoke digital platform designed and built by the
Company. The goal is to make the process as simple as possible,
with applications only taking a few minutes and RentGuarantor
completing the application on the same day.
RentGuarantor supplies its service to the whole of the market -
students, both from the UK and overseas, employed people and people
on benefits including Universal Credit, ensuring that everyone has
the opportunity to live in their dream rental home.
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END
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December 08, 2023 02:00 ET (07:00 GMT)
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