REG - Ten Lifestyle Group - Corporate Client Development in the Americas

Ten LifestyleAnnouncement

26/07/2022 07:00

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RNS Number : 6858T  Ten Lifestyle Group PLC  26 July 2022

26 July 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Corporate Client Development in the Americas

 

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global
concierge platform for the world's wealthy and mass affluent announces that it
maintains its recent record of retaining 100% of its Material(1) contracts and
provides the following corporate client developments in the Americas:

 

·   Ten won a competitive tender to launch a new digitally enabled
concierge programme for the premium cardholders of an issuing bank in the
Americas at the end of this financial year. This new deal, with an existing
global client, represents a Medium(1) contract in the next financial year (FY
2023).

 

·    The new contract in the Americas announced on 12 January 2022
successfully launched with certain of Morgan Stanley's ultra high net worth
International Wealth Management clients in Latin America last month. This
contract currently provides clients the opportunity to opt-in for Ten's
concierge services in their local markets and Ten expects it to be a Medium
contract.

 

·    Ten is expanding an existing contract in the Americas by launching
Ten's concierge services to a new portfolio of cardholders later this summer,
growing the number of eligible members. This is expected to grow the size of
the existing Medium contract by the equivalent of another Medium contract in
the next financial year (FY 2023).

 

These developments are 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.
Medium, Large and Extra Large contracts are collectively Ten's "Material
Contracts".

 

 

- End -

 

 

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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