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RentGuarantor Hldgs - Proposed Subscription


Announcement provided by

RentGuarantor Holdings PLC · RGG

13/05/2025 07:00

RentGuarantor Hldgs - Proposed Subscription
RNS Number : 3465I
RentGuarantor Holdings PLC
13 May 2025
 

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER DETAILS OF THE FUNDRAISING ARE SET OUT BELOW.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SUBSCRIPTION SHARES OF RENTGUARANTOR HOLDINGS PLC. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. IN PARTICULAR, YOU SHOULD READ AND UNDERSTAND THE INFORMATION PROVIDED IN THE APPENDIX TITLED 'IMPORTANT NOTICES'.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

 

13 May 2025

RentGuarantor Holdings PLC

 

(the "Company" or "RentGuarantor")

 

Proposed Subscription

 

The Board of 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, announces it is proposing to raise up to £2,000,000 by way of an issue of up to 800,000 new Ordinary shares of £1 each ("Ordinary Shares") at a price of 250p per Ordinary Share ("Subscription Shares") by way of subscriptions (the "Subscription").

 

The net funds raised through the Subscription are proposed to be utilised to fund the expansion of the Company's business over the forthcoming year, principally in terms of the hiring of additional staff and marketing activities, as well as the provision of general working capital and being applied towards the costs associated with the Company's intended move of the public quotation for trading in its ordinary shares to AIM.

 

The Subscription Share issue will be made on a non-pre-emptive basis under the terms of the Board's authority confirmed at the last AGM.  Any eligible shareholder, however, who may wish to subscribe for Ordinary Shares in the issue may express an interest to the Company by emailing: investors@rentguarantor.com.

 

The Subscription is planned to close on 6 June 2025 and a further announcement in relation to its results is expected to be made on or before that date, which will include details of the application to be made for the Subscription Shares to be admitted to trading on the AQSE Growth Market ("Admission").  Should the proposed sub-division of the Company's Ordinary Shares by approved at the General Metting to be held on 6 June 2025, the Subscription Shares will be adjusted accordingly to reflect the change in nominal value of the Ordinary Shares.

 

For more information, please contact:

 

RentGuarantor Holdings PLC

Paul Foy, Chief Executive Officer

 

 

+44 (0) 20 7193 4418

Allenby Capital Limited - AQSE Corporate Adviser

Nick Harriss/Alex Brearley/Ashur Joseph - Corporate Finance

 

+44 (0) 20 3328 5656

 

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.

 

Important Notices:

 

The content of this announcement does not constitute a Financial Promotion within the meaning of the Financial Services and Markets Act 2000 (as amended) ('FSMA'). The Subscription will be exempt from the general restriction (in section 21 of FSMA) relating to communications of invitations or inducements to engage in investment activity on the ground that it is made in accordance with Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ('the Order') to parties who are or who are reasonably believed to be members of the Company or it is made to a person to whom it would otherwise be lawful to offer a participation in and communicate with in connection with  the  Subscription. If you are in any doubt about the investment to which this promotion relates, you should consult an authorised person specialising in advising on investments of the kind in question. IF YOU DO NOT FALL WITHIN AN EXEMPTION UNDER THE ORDER, THEN YOU MAY NOT PARTICIPATE IN THE SUBSCRIPTION.

 

This announcement is for information purposes only and does not constitute or form any part of an offer to sell or issue, or a solicitation of an offer to buy, subscribe for or otherwise acquire any securities in the united states (including its territories and possessions, any state of the united states and the District of Columbia (collectively, the "united states"), Australia, Canada, South Africa, Japan or any other jurisdiction in which such offer or solicitation would be unlawful or to any person to whom it is unlawful to make such offer or solicitation. No public offering of the Subscription Shares is being made in any such jurisdiction. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions. This announcement is not for public release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, South Africa, Japan or any other jurisdiction in which such release, publication or distribution would be unlawful.

 

No offering document or prospectus will be made available in any jurisdiction in connection with the matters contained or referred to in this announcement or the Subscription and no such prospectus is required to be published.

 

This announcement is for information purposes only and shall not constitute an offer to sell or issue or the solicitation of an offer to buy, subscribe for or otherwise acquire any Subscription Shares.  No offering document or prospectus will be made available in any jurisdiction in connection with the matters contained or referred to in this announcement or the Subscription and no such prospectus is required to be published.

 

This announcement does not constitute a recommendation concerning any investor's options with respect to the Subscription. Recipients of this announcement should conduct their own investigation, evaluation and analysis of the business, data and other information described in this announcement. This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Subscription Shares. The price and value of securities can go down as well as up and investors may not get back the full amount invested upon the disposal of the shares. Past performance is not a guide to future performance. The contents of this announcement are not to be construed as legal, business, financial or tax advice. Each investor or prospective investor should consult his or her or its own legal adviser, business adviser, financial adviser or tax adviser for legal, business, financial or tax advice.

 

All offers of the Subscription Shares will be made pursuant to an exemption under the UK Prospectus Regulation from the requirement to produce a prospectus. This announcement is being distributed and communicated to persons in the United Kingdom only in circumstances in which section 21(1) of FSMA does not apply.

 

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