REG - Ten Lifestyle Group - Ten Grows Contract to Extra Large Contract

Ten LifestyleAnnouncement

30/10/2018 07:05

RNS Number : 5885F
Ten Lifestyle Group PLC
30 October 2018
 


30 October 2018
Ten Lifestyle Group plc
("Ten" or the "Company")
Existing Large Contract in The Americas expected to grow to become first Extra Large Contract
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled lifestyle and travel platform for the world's wealthy and mass affluent, is pleased to announce that it has signed an improved contract with an existing client in The Americas which includes a significant increase in member requests and development of platform customisation. The additional revenue will grow the existing Large contract into Ten's first Extra Large contract1, commencing on 1st October 2018.
 
(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 follows:
 
·     Small contracts (below £250,000);
·     Medium contracts (between £250,000 and £2 million);
·     Large contracts (over £2 million); and
·     Extra Large contracts (over £5 million).
 
This does not include the revenue generated from suppliers through the provision of concierge services.
 
Alex Cheatle, CEO, Ten Lifestyle Group plc, said;
 
"We aim to continue to improve our service, both digitally and high touch across our operations globally.  We expect our corporate clients to see an increasing impact on their commercial metrics - growing their customer share and helping with measurable customer acquisition, value and retention.  As these tangible benefits of our offering become increasingly apparent for our customers, and justify increasing budget levels for our services, we expect to have more Extra Large contracts in the future from our major global clients."
 
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For further information, please visit https://www.tengroup.com/ or contact:
 



Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer
Sean Hegarty, Chief Financial Officer
Kerry Anderson, Head of PR
 


via Tavistock
 
 
+44 (0)20 7479 3427




Jefferies International Limited, Nominated Advisor
Simon Hardy
Christopher Binks
 


+44 (0) 20 7029 8000




Peel Hunt LLP, Joint Broker
Edward Knight
Nick Prowting
Max Irwin
 


+44 (0) 20 7418 8900




Tavistock, Financial PR & IR
Jos Simson
Simon Hudson
Sophie Praill


+44 (0) 20 7920 3150



 
Notes to Editors
 
Ten Lifestyle Group Plc, founded in 1998, is a leading, technology-enabled lifestyle and travel platform, providing trusted concierge services to its members around the clock, 365 days a year. The Group currently has a headcount of over 800 staff around the world and is listed on the AIM market of the London Stock Exchange (AIM: TENG).
 
Ten assists its members to discover, organise and book travel, dining and live entertainment; seeking to save them both time and money. Through Ten's service proposition, members can achieve superior access, experiences and outcomes, more cost-effectively and conveniently than they could have achieved on their own. Ten provides a high-touch travel and lifestyle concierge service, underpinned by its proprietary technology-enabled platform.
 
Across the business, Ten manages and provides its personalised service to more than 2 million registered private and corporate individuals on behalf of over 50 organisations.
 
Ten is headquartered in London, with offices in 20 locations globally serving its growing global network of members.
 
For further information about Ten Lifestyle Group Plc, please go to: https://www.tengroup.com/.
 




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