REG - Ten Lifestyle Group - Ten wins new contract in the Americas

Ten LifestyleAnnouncement

12/01/2022 07:00

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RNS Number : 1326Y  Ten Lifestyle Group PLC  12 January 2022

12 January 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten wins new contract in the Americas

 

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 world's largest private banks and wealth managers.

 

In the spring of 2022, Ten plans to launch its digitally-enabled concierge
service to a select group of the new client's private banking customers in the
Americas.

 

This is expected to be a Medium(1) contract with the potential to grow if the
success of this initial launch leads to the expansion of the service to other
geographies and private banking customer groups.

 

This new contract is 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 corporate
client that is one of the world's largest and most prestigious private banks
and we will soon be launching our digitally-enabled concierge service to their
highly valued customers in the Americas. 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.

This is a significant development for Ten in the Americas, further
strengthening our scale in the region, and the Group's business within the
private banking and wealth management sector globally."

 

(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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