Ten Lifestyle Group PLC Client Commission a Technology Development Project (0582F)
17 Marzo 2022 - 1:05AM
UK Regulatory
TIDMTENG
RNS Number : 0582F
Ten Lifestyle Group PLC
17 March 2022
17 March 2022
Ten Lifestyle Group plc
("Ten" or the "Group")
Client Commissions a Technology Development Project
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 been
awarded a significant commission from an existing major global
financial services client to develop and enhance Ten's proprietary
digital platform used by the client's valued customers.
In this addition to the existing contract, Ten will be paid to
develop new features that are expected to increase customer
engagement, the number of active users and related revenues. These
include the integration of the client's own assets into the
existing asset-rich digital platform environment to enhance the
overall proposition to the customer base.
The fee for this project is expected to grow the existing Extra
Large(1) contract by the equivalent of a Medium contract over the
next 12 months and may be renewed over the following years.
This addition to the existing contract is incorporated within
the Group's existing growth plan.
(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 GBP0.25m); Medium contracts (between
GBP0.25m and GBP2m); Large contracts (between GBP2m and GBP5m); and
Extra Large contracts (over GBP5m). This does not include the
revenue generated from suppliers through the provision of concierge
services.
Alex Cheatle, CEO of Ten Lifestyle Group, said;
"Ten's member-facing digital platform is now live with 27
brands, over 100 countries, in 17 languages and has become a
powerful tool for our corporate clients to increase customer
acquisition, retention and engagement.
This paid-for project is a powerful example of how our corporate
clients can be willing to invest into our technology platform to
help their customer metrics and it signifies another vote of
confidence in our technology and helps confirm Ten as a trusted
technology partner" .
For further information, please visit
https://www.tenlifestylegroup.com/ or contact:
Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and Broker
Edward Knight
Paul Gillam +44 (0) 20 7418
James Smith 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 more quickly than they could
themselves.
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
.
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END
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March 17, 2022 03:05 ET (07:05 GMT)
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