Corporate Client Development in the Americas

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 Material¹ 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 Medium¹ 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 £0.25m); Medium contracts (between £0.25m and £2m); Large contracts (between £2m and £5m); and Extra Large contracts (over £5m). 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".

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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	[phone]
Peel Hunt LLP, Nominated Advisor and Broker Edward Knight Paul Gillam James Smith	[phone]

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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