Ten Lifestyle Group PLC Ten Grows Contract to Extra Large Contract (5885F)
October 30 2018 - 3:00AM
UK Regulatory
TIDMTENG
RNS Number : 5885F
Ten Lifestyle Group PLC
30 October 2018
30 October 2018
Ten Lifestyle Group plc
("Ten" or the "Company")
Existing Large Contract in The Americas expected to grow to
become first Extra Large Contract
Ten Lifestyle Group plc (AIM: TENG), a leading
technology-enabled lifestyle and travel platform for the world's
wealthy and mass affluent, is pleased to announce that it has
signed an improved contract with an existing client in The Americas
which includes a significant increase in member requests and
development of platform customisation. The additional revenue will
grow the existing Large contract into Ten's first Extra Large
contract(1) , commencing on 1st October 2018.
(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 GBP250,000);
-- Medium contracts (between GBP250,000 and GBP2 million);
-- Large contracts (over GBP2 million); and
-- Extra Large contracts (over GBP5 million).
This does not include the revenue generated from suppliers
through the provision of concierge services.
Alex Cheatle, CEO, Ten Lifestyle Group plc, said;
"We aim to continue to improve our service, both digitally and
high touch across our operations globally. We expect our corporate
clients to see an increasing impact on their commercial metrics -
growing their customer share and helping with measurable customer
acquisition, value and retention. As these tangible benefits of our
offering become increasingly apparent for our customers, and
justify increasing budget levels for our services, we expect to
have more Extra Large contracts in the future from our major global
clients."
- End -
For further information, please visit https://www.tengroup.com/
or contact:
Ten Lifestyle Group Plc via Tavistock
Alex Cheatle, Chief Executive Officer +44 (0)20 7479
Sean Hegarty, Chief Financial Officer 3427
Kerry Anderson, Head of PR
Jefferies International Limited, Nominated
Advisor
Simon Hardy +44 (0) 20 7029
Christopher Binks 8000
Peel Hunt LLP, Joint Broker
Edward Knight
Nick Prowting +44 (0) 20 7418
Max Irwin 8900
Tavistock, Financial PR & IR
Jos Simson
Simon Hudson +44 (0) 20 7920
Sophie Praill 3150
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 2 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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END
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