RentGuarantor Holdings PLC Quarterly Activities Update (2136E)

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RNS Number : 2136E

RentGuarantor Holdings PLC

27 October 2022

27 October 2022

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 update the market and shareholders on the quarterly activities of the Company for the three-month period ended 30 September 2022 ("Q3" or the "Quarter").

Highlights for the Quarter

   --    Increased demand and positive market outlook 

RentGuarantor saw an increase in demand for its service by 42% in the Quarter compared to Q2. In the nine-month period from January to September 2022, the Company saw an increase in demand by 74% compared to same period in 2021. The market outlook is positive, with the Company expecting to see even further demand for its services in Q4 and beyond.

   --    Attendance at industry conferences 

The RentGuarantor team attended a series of industry conferences, including Propertymark's Scottish National Conference as a recognised supplier, and EA Masters as an exhibitor.

   --    Expansion of the team 

In the period, RentGuarantor strengthen the management team and hired new staff to support the Company as it grows and evolves.

   --    Announcement of investor Q&A 

In September 2022, the Company announced a Q&A for all investors and interested parties. Held in the middle of October 2022, this served as an opportunity to ask Paul Foy, CEO, questions about RentGuarantor's service and the direction of the Company going forward.

   --    2022 Interim Results 

Unaudited Interim Results for the six months to 30 June 2022 released in September 2022. Whilst the content of the results concerns Q1 and Q2, the outlook section mentions the success of Q3, highlighting that "the months of July and August have seen further increases in revenues as we continue to build our team and our capabilities".

   --    Passing of all resolutions at the AGM 

RentGuarantor held its Annual General Meeting ("AGM") in London on 28(th) July, and all resolutions put to shareholders were duly passed, demonstrating confidence in the Board and the direction it is taking the Company.

Paul Foy, CEO of RentGuarantor, said: "I am delighted to update shareholders on the success that RentGuarantor has seen in Q3. In particular, we have seen an increase in demand for our rent guarantee service, with applications up by 42 % in the Quarter. As a company, we have been extremely busy attending conferences in order to increase our exposure within the industry, as well as expanding the team so that we can continue to deliver our high-quality service as demand increases.

"We also announced a Q&A, held post period in October 2022, to provide investors with an opportunity to hear directly from myself on any questions they have. The whole team and I are delighted with the progress the Company is making as we continue to expand the business, and look forward to updating the market in due course."

For more information, please visit: www.rentguarantor.com

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

[phone]

Optiva Securities Limited (Broker)

Vishal Balasingham

[phone]

BlytheRay (Financial PR)

Tim Blythe, Megan Ray, Madeleine Gordon-Foxwell

[phone]

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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October 27, 2022 02:00 ET (06:00 GMT)