REG - Ten Lifestyle Group - Ten secures contract wins and renewals in EMEA

Ten LifestyleAnnouncement

25/01/2022 07:05

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RNS Number : 4542Z  Ten Lifestyle Group PLC  25 January 2022

25 January 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten secures strategic contract wins and renewals with wealth managers in EMEA

 

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 won a multi-year contract with a new corporate client, that is
one of the UK's largest wealth managers.

 

The new contract will see Ten initially launch its services in spring 2022,
making concierge and lifestyle services, including Ten's proprietary digital
platform, available to a segment of the client's wealth management customers
in the UK. This initial launch is expected to amount to a Small contract(1)
this financial year and grow into a Medium contract during its multi-year
term.

Ten is also pleased to provide the following recent business developments in
the EMEA region:

·    Ten has agreed a multi-year deal with St. James's Place, an existing
corporate client and FTSE-100 wealth management business, to further roll-out
its digitally-enabled concierge services to its Partners and clients, growing
the existing Medium contract following a successful pilot.

 

·    Ten has renewed an existing Large contract with a major UK private
bank, continuing the longstanding provision of Ten's digitally-enabled
concierge services to the client's most valued customers.

 

·    Further to Ten's announcement on 20 September 2021, Ten's
digitally-enabled concierge services have been added to Barclays' Travel Plus
Pack product, which is now on sale. This is expected to result in the growth
of the existing Medium contract.

 

·   Ten has secured Small contracts with two wealth managers in EMEA to
provide Content services to support the clients' customer engagement strategy.

 

These announcements are incorporated within the Group's existing growth plan.

 

Alex Cheatle, CEO of Ten Lifestyle Group, said:

"I am delighted that we have won a significant contract with a new wealth
manager in the UK. We hope the success of this programme may lead to the
further expansion of the service and the growth of a strong and long-lasting
partnership with this new corporate client.  Our aim is for our service to
support our corporate clients with improved client retention, acquisition and
increases in Assets Under Management."

This is a significant development for Ten in the UK, our most mature market,
demonstrating the potential for growth as we prove the impact that we can have
on our corporate clients' commercial success, by delivering outstanding
personal service to their valued clients.  The win, along with the other
recent business developments with wealth managers in the region, may also help
provide further proof to other wealth managers, outside the UK, looking to
improve their customer metrics."

 

(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.

 

- 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.
Many of the world's leading brands pay Ten to support their most valued
customers.

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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