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On 8 January 2025, RentGuarantor Holdings PLC announced it has raised £455,274.83 by issuing 10% coupon unsecured convertible loan notes. Southpaw Limited, a company owned and controlled by CEO Paul Foy, subscribed £80,000 of these notes, and the subscription period is now closed. The Convertible Loan Notes are redeemable on 18 November 2026, if not converted.
| Date | 8 Jan 2025 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 4474S |
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:
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The Convertible Loan Notes carry a coupon of 10% per annum, payable annually |
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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 |
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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.