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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
+44 207 193 4418
Alfred Henry Corporate Finance Limited (AQSE Corporate
Adviser)
Nick Michaels
+44 20 3772 0021
Optiva Securities Limited (Broker)
Vishal Balasingham
+44 203 411 1881
BlytheRay (Financial PR)
Tim Blythe, Megan Ray, Madeleine Gordon-Foxwell
+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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END
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