REG - Ten Lifestyle Group - Ten Wins Contract with ICBC

Ten LifestyleAnnouncement

13/12/2018 09:05

RNS Number : 3782K
Ten Lifestyle Group PLC
13 December 2018
 


13 December 2018
Ten Lifestyle Group plc
("Ten" or the "Company")
Ten Wins Contract with ICBC Private Banking Department
 
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 it has won a new contract with ICBC Private Banking Department, to provide high-touch travel and lifestyle concierge services to a select group of its high-net-worth clients based in China.
 
The service is due to launch in January 2019 as a Small contract1 and is expected to potentially grow into a Medium contract in the 2019/20 financial year.
 
(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); and
·    Medium contracts (between £250,000 and £2 million);
 
This does not include the revenue generated from suppliers through the provision of concierge services.
 
ICBC Private Banking Department;
 
"After a competitive tender we were happy to appoint Ten Lifestyle Group plc as a premium travel and lifestyle concierge partner. We were impressed by the team we met, their digital platform and their global reach. We hope this is the start of a strong partnership in China."  
 
Andrew Long, CEO Asia Pacific, Ten Lifestyle Group plc, said;
 
"We are honoured to have been chosen by ICBC to support their most valuable clients in China and thrilled to be working with the world's largest bank. We see this as a fantastic opportunity to grow our already sizeable operation in mainland China"  
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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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