TENG Ten Lifestyle Group Plc

TIDMTENG

RNS Number : 4316R

Ten Lifestyle Group PLC

05 November 2021

5 November 2021

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten Wins Second Contract with DNB in Norway

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 won a second contract with DNB Bank ASA ("DNB"), the largest financial services group in Norway.

The new mandate sees Ten immediately taking over the provision of concierge services to selected Private Banking customers from the incumbent supplier and launch its digital services in the spring. This is expected to double the size of the existing contract, categorised as an expanding Medium contract(1) .

Since opening the Group's Oslo office in April 2019, Ten has enhanced its service capabilities in Scandinavia, delivered in Norwegian, Swedish as well as English, improving its proposition to members and corporate clients in the region.

This contract expansion 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.

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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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November 05, 2021 03:00 ET (07:00 GMT)

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