Ten Lifestyle Group PLC Corporate Client Development in the Americas (6858T)
26 Julio 2022 - 1:00AM
UK Regulatory
TIDMTENG
RNS Number : 6858T
Ten Lifestyle Group PLC
26 July 2022
26 July 2022
Ten Lifestyle Group plc
("Ten" or the "Group")
Corporate Client Development in the Americas
Ten Lifestyle Group plc (AIM: TENG), a leading
technology-enabled, global concierge platform for the world's
wealthy and mass affluent announces that it maintains its recent
record of retaining 100% of its Material (1) contracts and provides
the following corporate client developments in the Americas:
-- Ten won a competitive tender to launch a new digitally
enabled concierge programme for the premium cardholders of an
issuing bank in the Americas at the end of this financial year.
This new deal, with an existing global client, represents a Medium
(1) contract in the next financial year (FY 2023).
-- The new contract in the Americas announced on 12 January 2022
successfully launched with certain of Morgan Stanley's ultra high
net worth International Wealth Management clients in Latin America
last month. This contract currently provides clients the
opportunity to opt-in for Ten's concierge services in their local
markets and Ten expects it to be a Medium contract.
-- Ten is expanding an existing contract in the Americas by
launching Ten's concierge services to a new portfolio of
cardholders later this summer, growing the number of eligible
members. This is expected to grow the size of the existing Medium
contract by the equivalent of another Medium contract in the next
financial year (FY 2023).
These developments are 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. Medium, Large and Extra Large contracts are collectively
Ten's "Material Contracts".
- End -
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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