REG - Ten Lifestyle Group - Client Commission a Technology Development Project

Ten LifestyleAnnouncement

17/03/2022 07:15

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RNS Number : 0582F  Ten Lifestyle Group PLC  17 March 2022

17 March 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Client Commissions a Technology Development Project

 

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global
concierge platform for the world's wealthy and mass affluent, is pleased to
announce it has been awarded a significant commission from an existing major
global financial services client to develop and enhance Ten's proprietary
digital platform used by the client's valued customers.

 

In this addition to the existing contract, Ten will be paid to develop new
features that are expected to increase customer engagement, the number of
active users and related revenues. These include the integration of the
client's own assets into the existing asset-rich digital platform environment
to enhance the overall proposition to the customer base.

 

The fee for this project is expected to grow the existing Extra Large(1)
contract by the equivalent of a Medium contract over the next 12 months and
may be renewed over the following years.

 

This addition to the existing contract is incorporated within the Group's
existing growth plan.

 

(1 )Ten categorises its corporate client contracts based on the annualised
value paid, or expected to be paid, by the corporate client for the provision
of concierge and related services by Ten as: Small contracts (below £0.25m);
Medium contracts (between £0.25m and £2m); Large contracts (between £2m and
£5m); and Extra Large contracts (over £5m). This does not include the
revenue generated from suppliers through the provision of concierge services.

 

 

Alex Cheatle, CEO of Ten Lifestyle Group, said;

 

"Ten's member-facing digital platform is now live with 27 brands, over 100
countries, in 17 languages and has become a powerful tool for our corporate
clients to increase customer acquisition, retention and engagement.

 

This paid-for project is a powerful example of how our corporate clients can
be willing to invest into our technology platform to help their customer
metrics and it signifies another vote of confidence in our technology and
helps confirm Ten as a trusted technology partner".

 

For further information, please visit https://www.tenlifestylegroup.com/
(https://www.tenlifestylegroup.com/)  or contact:

 

 Ten Lifestyle Group Plc                       +44 (0)20 7850 2796

 Alex Cheatle, Chief Executive Officer

 Alan Donald, Chief Financial Officer

 Peel Hunt LLP, Nominated Advisor and Broker   +44 (0) 20 7418 8900

 Edward Knight

 Paul Gillam

 James Smith

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc (http://www.tenlifestylegroup.com)  is a leading
technology-enabled, global concierge platform, helping wealthy and mass
affluent individuals and their families to discover, organise, and enjoy
dining, live entertainment, travel and premium retail (and other relevant
services) with better results and more quickly than they could themselves.

Underpinned by industry-first technology, Ten provides its trusted concierge
services to millions of members, in over 15 languages, 24/7, 365 days a year,
wherever they are in the world. Founded in 1998, the business listed on the
AIM market of the London Stock Exchange in November 2017 (AIM: TENG).

The growth engine at the heart of Ten's business model is the driving force
behind its progress towards its objective to become the most trusted service
platform in the world.

 For further information please go to: www.tenlifestylegroup.com
(http://www.tenlifestylegroup.com/) .

 

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