RentGuarantor Hldgs - Move to Apex Segment of the Aquis Stock Exchange
Announcement provided by
RentGuarantor Holdings PLC · RGG01/03/2023 07:00
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1 March 2023
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
Admission to Apex Segment of the Aquis Stock Exchange
RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the
The Apex segment of AQSE features larger, more established businesses, and enforces stricter eligibility criteria to encourage greater liquidity. This will enable RentGuarantor to further enhance its connection with investors, whilst advancing growth and upholding its commitment to the highest levels of corporate governance.
RentGuarantor, which first listed on AQSE in December 2021, satisfies all the criteria required by a company listing on the Apex segment, including:
· A minimum market capitalisation of
· At least 25% shares in public hands
· A minimum of two years' trading history
Paul Foy, CEO of RentGuarantor, said: "I am delighted to join the Apex segment of AQSE. Our motivation to first list on AQSE was driven by the opportunity to advance growth and accelerate the business; this upgraded listing is a measure of the success we have had in doing so.
We welcome the stricter requirements for companies listed on the Apex segment, notably the emphasis it places on transparency and liquidity. This robust regulatory framework will serve to strengthen the Company's corporate governance and exposure to investors, ensuring that we uphold the highest standards of business as we progress our rent guarantee service."
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
+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"). 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.
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.
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