RentGuarantor Hldgs - First Day of Dealing
RNS Number : 8171U
RentGuarantor Holdings PLC
08 December 2021
 

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8 December 2021

RentGuarantor Holdings PLC

 (the 'Company' or 'RentGuarantor')

 

Admission to Trading on AQSE

and

First Day of Dealings

 

RentGuarantor Holdings Plc, a company providing a rent guarantee service to tenants wishing to rent property in the UK from the private rental sector, is pleased to announce that trading in its Ordinary Shares will commence on the AQSE Growth Market (AQSE) at 08:00 today, 8 December 2021, under the ticker "RGG" and ISIN number GB00BMCM8706.

Fundraise information

The Company has been admitted to the Access segment of AQSE and the commencement of trading of the Company's Ordinary Shares follows a successful subscription and placing by Optiva Securities Limited for a total of 62,500 Ordinary Shares at £2 per ordinary share, raising gross proceeds of £125,000 (before expenses). 

On Admission, the Company will have 11,268,680 Ordinary Shares in issue and the market capitalisation of the Company will be approximately £22,537,360.

Paul Foy, Chief Executive Officer of RentGuarantor commented: 

 

"We are delighted to announce our listing on London's AQSE. I welcome new shareholders and thank them for their support of the Company. Today's admission to trading on London's AQSE is a major milestone for us. RentGuarantor exists to fulfil a market need, but we also have big ambitions to grow new revenue streams through the innovative use of technology. We are very excited about the prospects for the business and look forward to sharing our plans more fully over the coming year."  

 

Company Highlights

 

The Directors believe that the success of the Group to date and its prospects are founded on the following key strengths:

 

·     Extensive experience in the private rental sector over 30 years

·     Experienced management team

·  Established partnership network of local authorities, letting agents and landlords already working with RentGuarantor

·     Ability to provide a same-day response on fully completed applications

·     Flexibility to provide bespoke solutions on a case-by-case basis

·     Bespoke in-house custom-built platform that provides a secure environment to upload and manage data through a personal account and dashboard which is scalable without additional IT investment

·      A track record of delivering the KPIs of the business

·      Effective risk management controls, demonstrated by the fact of low defaulting arrears

·      Low cost of operation with a prudent debt free model

 

**END**

 

For more information, please refer to the Company's AQSE Admission Document 2021 which is available on the Company's website: www.rentguarantor.com 

 

For further information please contact:

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 2034111881                                                                                                             

 

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"). The rent guarantee service is an online service where applications can be managed on a secure and bespoke digital platform designed and built by RentGuarantor. RentGuarantor supplies its service to the whole of market - students, employed, and people on benefits including Universal Credit. Local authorities have a legal obligation under housing and other property related Acts of Parliament to provide tenants with a home and this is mostly achieved by paying for the tenant to reside in a PRS property. Local authorities use the guarantee service as they cannot become a guarantor. RentGuarantor's risk from rent guarantees is fully underwritten by Lloyds of London.

 

With only 1% capture of the PRS of tenants needing a guarantor, based on RentGuarantor's existing fee structure, the market is estimated to be in the region of £100m.

 

The Company's strategy is to strengthen its senior and middle management team and grow revenue in accordance with its business model. RentGuarantor sees the PRS continuing to grow with affordability to buy, coupled with lifestyle choices being the key drivers over the next 3-5 years.

RentGuarantor will rollout additional services that complement RentGuarantor's proposition, which will deliver additional revenue, and cement RentGuarantor as the leading rental guarantor company in the UK.

 

Board of Directors

Paul Foy, Chief Executive Officer

Paul is the CEO and founder of RentGuarantor Holdings PLC. Paul's background is in property investment in Ireland, UK, and Europe. He has been a property investor since 1984 and is familiar with all the issues arising for both landlords & tenants in the UK where he holds a private rental portfolio. A key strength developed over nearly 40 years is achieving his goal and finding niche strategies for adding value upon exit. He has extensive knowledge of the retail market where he owned several convenience stores in the 1980's & 1990's, so customer focused needs and solutions are always to the fore.

RentGuarantor.com has been developed by Paul and his team to address renting in the modern era. Unlike other property portals who have a subscription-based model with estate agents, Paul has a vision for RentGuarantor as being the premier online place go to place for landlords and tenants. RentGuarantor continues to innovate under Paul's leadership and his extensive network of contacts within the industry.

 

Graham Duncan - Non-Executive Chairman

 

Graham is a chartered accountant with more than 20 years' capital markets experience. He also holds the Corporate Finance Diploma issued by the Institute of Chartered Accountants in England and Wales. He specialises in advising public and private companies in respect of financial reporting, transaction support and regulatory compliance. Since 2013, Graham has run a consultancy business providing advice to growing private and public companies in the UK and internationally. Prior to this, Graham was a capital markets director with Mazars LLP in London. He previously worked for an international firm of chartered accountants in Asia and was based in Hong Kong between 1993 and 1996.

 

Emma Foy, Chief Operating Officer

Emma has a Bachelor of Business degree with a specialism in marketing and operations and over a decade of experience across several industries, both in corporate and start-up environments. Starting out in the hospitality industry, Emma gained hands-on operational experience with international hotel operators including the Conrad & Hilton Group in Ireland before moving into the online gaming world with Stan James PLC where she spent five years combining a passion for digital marketing with customer-focused event management. Emma has been in the property sector with Ezylet and RentGuarantor since 2013, running day-to-day operations from their company's Gibraltar base.

 

Kieron Becerra, Chief Financial Officer

Kieron is a Fellow Chartered Certified Accountant and executive with over 16 years experience. He has a wide knowledge base having held senior positions in public practice, online gaming, funds, legal, London AIM listed multi-national oil and gas service sector, and most recently in the water utility industry. These have afforded him a strong technical, commercial, strategic and financial reporting background, which together with his experience has meant that over the years he has also been engaged as a consultant, including by various start-ups.

 

 

 

 

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