Corporate News

Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal services provider, is pleased to announce the formation of a new team within its legal services division, Bond Turner, to deal with claims arising from housing disrepair.

Highlights

• Formation of a specialist Housing Disrepair ("HDR") team within Bond Turner
• The HDR team is currently engaged in almost 1,600 cases and this figure is expected to rise substantially during 2022
• Housing trends indicate a move away from owner occupation towards either private or social rental
• 12% of social housing dwellings and 23% of private rented dwellings fail to meet the Decent Homes Standard
• 5% of social housing dwellings and 13% of private rented dwellings suffer from a Category 1 Hazard, defined as damp and mould growth

Alan Sellers, Executive Chairman of Anexo, said:

"It has been apparent for some time that large numbers of tenants, including many of our customers, are suffering from poor quality housing. The new HDR team will be able to help claimants by ensuring that their landlords, whether they be local authorities, housing associations or private landlords, are obliged to maintain their homes to a decent standard. This includes a reasonable state of repair, the provision of reasonably modern facilities, and reasonable thermal comfort, including the absence of damp and mould."

"Bond Turner has built an excellent reputation for helping people who have been placed in an invidious position through no fault of their own. We believe that by addressing the problem of sub-standard housing, we are performing a socially useful function and helping to raise standards across the board. We look forward to growing our HDR casebook and believe that it will become a significant contributor to Group revenues."

About Housing Disrepair

According to the Government's English Housing Survey for 2019 to 2020, there were 4.4 million privately rented homes and 4.0 million socially rented homes in England. There has been a trend away from owner occupation towards either private or social rental. This trend is likely to continue, given the ongoing economic impact of the COVID-19 pandemic.

12% (480,000) of social housing dwellings and 23% (1.01 million) private rented dwellings fail to meet the Decent Homes Standard, which is a technical standard for public housing defined by the Government. In addition, 5% (200,000) of social housing dwellings and 13% (572,000) of private rented dwellings suffer from a Category 1 Hazard, defined as damp and mould growth.

The Homes (Fitness for Human Habitation) Act came into force in 2019 to ensure that rented houses and flats are fit for human habitation. The Act has given more power to tenants to take action against negligent or irresponsible landlords.

The specialist HDR team within Bond Turner has considerable experience in covering this area. Claims can involve both redress and compensation, where appropriate. Claimants are frequently identified through Bond Turner's internal database. The team also uses appropriate social media marketing to identify possible claimants. The HDR team is overseen by Samantha Moss, Managing Director of Bond Turner.

The number of cases with which the HDR team is currently engaged is approaching 1,600 and this figure is expected to rise substantially during 2022.

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Notes to Editors:

Anexo is a specialist integrated credit hire and legal services provider. The Group has created a unique business model by combining a direct capture Credit Hire business with a wholly owned Legal Services firm. The integrated business targets the impecunious not at fault motorist, referring to those who do not have the financial means or access to a replacement vehicle.

Through its dedicated Credit Hire sales team and network of over 1,100 active introducers around the UK, Anexo provides customers with an end-to-end service including the provision of Credit Hire vehicles, assistance with repair and recovery, and claims management services. The Group's Legal Services division, Bond Turner, provides the legal support to maximise the recovery of costs through settlement or court action as well as the processing of any associated personal injury claim.

The Group was admitted to trading on AIM in June 2018 with the ticker ANX.

For additional information please visit: www.anexo-group.com. To subscribe to our investor alert service and receive all press releases, financial results and other key shareholder messages as soon as they become available, please visit: https://www.anexo-group.com/content/investors/alert.asp.