End of a Small Contract

RNS Number : 6864G

Ten Lifestyle Group PLC

07 November 2018

 

7 November 2018

Ten Lifestyle Group plc

("Ten" or the "Company")

End of a Small Contract

Ten Lifestyle Group plc (AIM: TENG), notes the recent share price movement and confirms that it has, by mutual agreement, agreed to cease the provision of concierge services under a Small contract¹ from the end of January 2019. This does not change the Board's expectations.

The Company does not generally announce the winning or losing of Small contracts but since IPO, we are pleased to have increased the number of Small contracts.

(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 follows:

·     Small contracts (below £250,000);

·     Medium contracts (between £250,000 and £2 million);

·     Large contracts (over £2 million); and

·     Extra Large contracts (over £5 million).

This does not include the revenue generated from suppliers through the provision of concierge services.

- End -

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

Ten Lifestyle Group Plc Alex Cheatle, Chief Executive Officer Sean Hegarty, Chief Financial Officer Kerry Anderson, Head of PR	via Tavistock [phone]
Jefferies International Limited, Nominated Advisor Simon Hardy Christopher Binks	[phone]
Peel Hunt LLP, Joint Broker Edward Knight Nick Prowting Max Irwin	[phone]
Tavistock, Financial PR & IR Jos Simson Simon Hudson Sophie Praill	[phone]

Notes to Editors

Ten Lifestyle Group Plc, founded in 1998, is a leading, technology-enabled lifestyle and travel platform, providing trusted concierge services to its members around the clock, 365 days a year. The Group currently has a headcount of over 800 staff around the world and is listed on the AIM market of the London Stock Exchange (AIM: TENG).

Ten assists its members to discover, organise and book travel, dining and live entertainment; seeking to save them both time and money. Through Ten's service proposition, members can achieve superior access, experiences and outcomes, more cost-effectively and conveniently than they could have achieved on their own. Ten provides a high-touch travel and lifestyle concierge service, underpinned by its proprietary technology-enabled platform.

Across the business, Ten manages and provides its personalised service to more than 1.6 million registered private and corporate individuals on behalf of over 50 organisations.

Ten is headquartered in London, with offices in 20 locations globally serving its growing global network of members.

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

 

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