Quarterly Activities Update

RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socioeconomic 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 31 December 2024 ("Q4" or the "Quarter").

Highlights

Strong growth

For Q4 2024, revenue is up 88% year-on-year ("YoY") compared with the same quarter last year, and the number of tenant contracts is up 73% YoY, demonstrating an increased demand for the RentGuarantor service. The average revenue per tenant contract also rose by 9% YoY, to £807.82.

Signing of partnership agreements

In Q4, the Company signed partnership agreements with a total of 49 introducers, including letting agents, councils, student accommodation providers, landlords and charities. This represents growth of 390% YoY.

Subscription for Convertible Loan Notes

During the Quarter, RentGuarantor announced a proposed 10% coupon unsecured convertible loan notes offering which, post-period end, was confirmed to have raised £455,274.83 for working capital and capital expenditure requirements.

Attendance at industry and investor conferences

RentGuarantor attended 11 events during the Quarter, including the Mello 10th Anniversary Show.

Paul Foy, CEO of RentGuarantor, said: "I am pleased to provide an update to shareholders following a strong end to 2024. First, I'm delighted with the results of our fundraise via the convertible loan notes, and I'm grateful that our investors share my optimism and vision for 2025, and joined me in further investing in RentGuarantor. I look forward to providing positive newsflow that reflects their confidence in the Company.

"I'm also delighted to have maintained strong growth throughout the Quarter, exemplified by increases in year-on-year revenues and tenant contracts. These statistics are indicative of the high demand for our services, underpinned by new partnership agreements with a range of fantastic letting agents, councils, student accommodation providers, landlords and charities.

"As we progress into 2025, I would like to take this opportunity to thank our valued employees and stakeholders for their contributions in what was our most successful year as a business to date."

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