The information contained within this
announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014
as it forms part of UK domestic law by virtue of
the European
Union (Withdrawal) Act 2018. Upon the publication of this
announcement via the Regulatory Information Service,
this inside information is now considered to be in the public
domain.
8 January 2025
RentGuarantor Holdings
PLC
(the "Company" or
"RentGuarantor")
Subscription for Convertible Loan
Notes
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 announce that, further to the announcement made on 18
November 2024, the Company has raised £455,274.83 by issuing 10% coupon unsecured
convertible loan notes ("Convertible Loan Notes").
Convertible Loan Notes were subscribed by Southpaw Limited, a
company owned and controlled by Paul Foy, CEO of RentGuarantor, in
an amount of £80,000. The period for subscription is now closed.
Funds raised by the subscription will be used for working capital
and capital expenditure
requirements.
The Convertible Loan Notes are issued on the
following principal terms:
|
·
|
The Convertible Loan Notes carry a coupon of
10% per annum, payable annually
|
|
·
|
The Company can convert the principal sum into
fully paid Ordinary Shares at the lower of the share price of the
Ordinary Shares of the Company on the day falling 10 business days
after the service of a conversion notice (the "Conversion Date")
and the average price of the Ordinary Shares traded on the Aquis
Stock Exchange (or other applicable stock exchange) when calculated
across the sixty consecutive days prior to the Conversion
Date
|
|
·
|
The Convertible Loan Notes, if not converted,
are redeemable on 18 November 2026
|
Paul Foy, CEO of RentGuarantor,
commented: "I am pleased
with the success of the fundraising efforts and have personally
invested, confident in the opportunities that lie ahead for
RentGuarantor in 2025 and beyond."
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 (0) 20 8064 4056
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.
