Annual Activities Review

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                                                                                          

[phone] 

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Nick Michaels

Maya Klein Wassink                                                                                                               

[phone]

Zeus (Joint Broker)

Simon Johnson (Corporate Broking)

James Hornigold (Investment Banking)

[phone]

Oberon Capital (Joint Broker)

Mike Seabrook

Nick Lovering

[phone]

BlytheRay (Financial PR)

Tim Blythe

 Megan Ray

[phone]

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.

 

END