TIDMRGG
RNS Number : 9968P
RentGuarantor Holdings PLC
13 October 2023
13 October 2023
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
Quarterly Activities Update
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 provide a quarterly activities update for the
three-month period ended 30 September 2023 ("Q3" or the
"Quarter").
Highlights
-- Strong growth
Revenue and tenant contracts are up approximately 100%
year-on-year, reflecting the growing demand for the RentGuarantor
service.
-- Signing of key strategic contract
RentGuarantor signed a strategic contract with Let Insurance
Services Ltd T/a The Lettings Hub ("The Lettings Hub") for the use
of the RentGuarantor service. The Lettings Hub is a supplier of
technology-driven products and services designed to make the
lettings journey quicker and easier for all parties across the
rental value chain.
-- Signing of partnership agreements
In Q3, the Company signed partnership agreements with a total of
16 letting agent entities or letting agent groups.
-- Implementation of new technology system
During the Quarter, RentGuarantor implemented a new internal
technology system from HubSpot. The new system will allow for the
more efficient management of company data.
-- Attendance at industry conferences
The RentGuarantor team attended eight industry conferences in
the Quarter, speaking with industry leaders and increasing
visibility for the RentGuarantor service.
-- Appointment of brokers
RentGuarantor appointed two new corporate brokers, Zeus Capital
and Oberon Investments, during the Quarter.
Post-period Highlights
-- Appointment of Non-Executive Director
David Cliff, a Professor of Computer Science at the University
of Bristol, who has also directed and advised on technology
research for Hewlett-Packard, Deutsche Bank, and various UK
Government departments, has been appointed to the Board as a
Non-Executive Director.
-- Publication of research note
Zeus Capital published a research note (the "note") on the
Company. The note identifies key features of the investment case
for RentGuarantor.
Paul Foy, CEO of RentGuarantor, said: "I am pleased to provide
this update to shareholders following another successful quarter
for the Company. Once again, we have seen increases in demand for
our services, with tenant contract figures up approximately 100%
year-on-year. This has been supported by the signing of a strategic
agreement with The Lettings Hub; we look forward to offering their
tenants the option of a guarantor, whilst collaborating further on
providing technology-driven solutions to serve the rental value
chain.
"As the business expands, I'm delighted to appoint Professor
David Cliff to the Board as Non-Executive Director. David's vast
experience in technology research, complex risk, and financial
markets, will prove invaluable as we develop into a sector-leading
platform. I look forward to updating shareholders on further
progress over the next quarter ."
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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