RentGuarantor Holdings PLC Quarterly Activities Update (9968P)

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

[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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXFZMMGLZVGFZM

(END) Dow Jones Newswires

October 13, 2023 02:00 ET (06:00 GMT)