Ten maintain 100% contract retention with EMEA win

RNS Number : 8126A

Ten Lifestyle Group PLC

07 February 2022

 

7 February 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten maintains 100% contract retention with competitive tender win in EMEA

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 competitive tender with an existing global financial services client to continue providing digitally-enabled concierge services to its customers in the EMEA region.

The client's renewed commitment to driving the engagement of its high-net-worth customers, and increased activity as EMEA continues to recover from the effects of the pandemic, are expected to grow the existing Medium¹ contract, with the potential to become a Large contract during the multi-year term of the renewal.

This renewal is incorporated within the Group's existing growth plan.

Alex Cheatle, CEO of Ten Lifestyle Group, said:    

"Winning this competitive tender with an existing major global financial services client demonstrates the competitive resilience of Ten's proposition, which has enabled the Group to retain all Material Contracts during the last two years."

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. Many of the world's leading brands pay Ten to support their most valued customers.

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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