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TENG - Ten Lifestyle News Story

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Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £80.7m
Enterprise Value £76.8m
Revenue £46.4m
Position in Universe 1118th / 1828

Ten Lifestyle Group - Ten Wins New Client Mandate

Wed 3rd February, 2021 11:00am
RNS Number : 8721N
Ten Lifestyle Group PLC
03 February 2021
 

3 February 2021

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten Wins New Client Mandate

 

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world's wealthy and mass affluent, announces that it has been awarded a new mandate by an existing corporate client in EMEA; significantly expanding an existing Extra Large1 contract.

 

The new mandate will transition thousands of the client's customers to a more premium, high-engagement programme, managed by Ten. The transition, due to begin in summer 2021, is expected to result in higher member activity and the expansion of the existing Extra Large contract by the equivalent of a Medium contract by the start of the 2022 financial year. This mandate win is incorporated within the Group's existing growth plan.

 

                                               

 

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 (over £2m); and Extra Large contracts (over £5m). This does not include the revenue generated from suppliers through the provision of concierge services.

 

 

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 For further information, please visit https://www.tenlifestylegroup.com/ or contact:

 

Ten Lifestyle Group Plc

Alex Cheatle, Chief Executive Officer

Alan Donald, Chief Financial Officer

 

+44 (0)20 7850 2796

 

Peel Hunt LLP, Nominated Advisor and Broker

Edward Knight

Paul Gillam

Nick Prowting

+44 (0) 20 7418 8900

 

 

 

Notes to Editors:

 

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc 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 quicker than they could themselves.

Underpinned by industry-first technology, Ten provides its trusted concierge services to its more than 2 million members, 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). Ten Lifestyle Group's objective is to become the most trusted service platform in the world.

 For further information about Ten Lifestyle Group Plc, please go to: www.tenlifestylegroup.com.

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