RentGuarantor Holdings PLC One Year Since Listing on Aquis
December 08 2022 - 2:00AM
RNS Non-Regulatory
TIDMRGG
RentGuarantor Holdings PLC
08 December 2022
8 December 2022
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
One Year Since Listing on Aquis
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 first anniversary of its listing on the Aquis Stock
Exchange.
Highlights:
-- As at 30(th) Nov 2022, RentGuarantor has seen an increase in
website traffic by 78% (YTD) compared to 2021 and application
numbers are also up 56% year on year
-- The Company reported its interim results for the period ended
30 June 2022, which saw an increase in revenue of 86% on the
comparative six-month period in 2021. Operating profit more than
doubled from GBP61,000 to GBP126,000 in the same period
-- Signed strategic partnership agreements, resulting in
RentGuarantor being granted the status and title of Recognised
Supplier by the National Residential Landlord Association ("NRLA")
in April 2022, and the status and title of Industry Supplier by
Propertymark Ltd ("Propertymark") in May 2022
-- In June 2022, the Company raised GBP1 million of additional
capital, in the form of convertible loan notes, to support its
plans for growth
-- Released a number of video interviews as well as an investor
Q&A, to increase exposure of management to shareholders
-- Attended several industry conferences, expanding the
industry's awareness of RentGuarantor's services
-- RentGuarantor made a number of key staff hires to support its strategic initiatives
Paul Foy, CEO of RentGuarantor, said: "I am extremely pleased to
commemorate this milestone of one year since listing on the Aquis
Stock Exchange. RentGuarantor listed last year with the intention
of helping to advance growth and accelerate the business and, in
that regard, it was certainly a successful strategic move. It has
been a year of significant growth for Company, in which we have
seen an increase in demand for our services and strong financial
results.
"The strategic partnerships that the Company has signed with the
NRLA and Propertymark have given us increased legitimacy as well as
providing important access to key stakeholders within the property
industry. In the case of the NRLA, being part of the Recognised
Supplier Scheme gives RentGuarantor access to NRLA's registered
landlord base in the UK which controls approximately 500,000
properties. The Industry Supplier Agreement that we signed with
Propertymark stipulates that it will promote RentGuarantor's rent
guarantee service through various marketing activities.
"Within the last year, the Company has also committed to
releasing 'Quarterly Activities Updates', and has released a series
of video interviews and an Investor Q&A, with the intention
being to strengthen the connection between investors and management
and allowing for greater transparency.
"As we move into the next year of our journey on Aquis, myself
and the entire management team are excited to capitalise on the
increased demand for our rent guarantee service, as well as reveal
the new technologies that the Company has been working on, enter
into more strategic agreements and initiatives, and expand the team
further. Our core goals are to grow the Company in a sustainable
way and increase value for our shareholders, whilst delivering
tangible value to our customers."
Ends
For further information please contact:
RentGuarantor Holdings PLC
Paul Foy, Chief Executive Officer
+44 207 193 4418
BlytheRay (Financial PR)
Tim Blythe, Megan Ray
+44 207 138 3204
About RentGuarantor Holdings Plc
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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