REG - Ten Lifestyle Group - Ten Secures New Business

Ten LifestyleAnnouncement

06/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231106:nRSF4156Sa&default-theme=true

RNS Number : 4156S  Ten Lifestyle Group PLC  06 November 2023

6 November 2023

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten Secures New Business

 

Ten Lifestyle Group plc (AIM: TENG), the global concierge platform driving
customer loyalty for global financial institutions and other premium brands,
is pleased to announce the following contract expansions, new business wins
and new partnership agreements:

 

·     An existing financial services client in the Americas has upscaled
their contact with Ten following high member engagement rates and utilization.
This expansion, which will now increase from a Medium(1) to a Large contract,
is expected to begin generating additional revenue from March 2024.

 

·     Ten has entered into a contract with a new global Private Bank client
with customers across AMEA(2) for our digitally-enabled travel and lifestyle
service. This service is expected to be launched across multiple markets in
the region during the first half of the calendar year 2024. Once fully
launched, this client is anticipated to equate to a Medium contract.

 

·      Ten has signed a partnership agreement with a niche B2B financial
services client to launch travel and lifestyle services to its affluent
customers in Europe. Set-up fees have been secured for this financial year,
with the full launch of the partnership expected to grow to a Medium contract
in the second half of 2024.

 

·      Ten has expanded an existing Large contract with a global
financial services client to deliver its concierge services into a significant
national market within the AMEA region.

 

·      Ten has signed an agreement with a further existing global
financial services client to deliver a new customer offers and events
programme in Europe, equal to a Small contract.

 

Alex Cheatle, Chief Executive Office of Ten Lifestyle Group plc, said;

 

"Our pipeline of new business is, as expected, producing new mandates from
both new and existing corporate clients, including via continued geographic
and customer vertical expansion, demonstrating the high impact of our
increasingly efficient customer loyalty platform. We continue to develop a
healthy pipeline of new business."

 

We have also successfully secured key contract renewals and extensions with
existing corporate clients on improved pricing terms, whilst retaining all
existing Material Contracts."

 

(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".

(2) Asia-Pacific the Middle East and Africa.

 

- 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

 Singer Capital Markets Advisory LLP, Nominated Advisor and Broker   +44 (0) 20 7496 3000

 Corporate Finance: James Moat / Oliver Platts

 Corporate Broking: Tom Salvesen / Charles Leigh-Pemberton

 

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc (http://www.tenlifestylegroup.com)  partners with
global financial institutions and other premium brands to attract and retain
wealthy and mass affluent customers.

Millions of members have access to Ten's services across lifestyle, travel,
dining, entertainment and retail benefits on behalf of over fifty clients
including HSBC, Coutts and Royal Bank of Canada. Ten's partnerships are based
on multi-year contracts generating revenue through platform-as-a-service and
technology fees.

Ten's operations are underpinned by an increasingly sophisticated
personalisation platform comprising industry-first, proprietary technology,
thousands of supplier relationships and 25 years of proprietary expertise
delivered from over 20 global offices.

Ten is on a mission to become the most trusted service platform in the
world.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTFSIEFIEDSEFF