Ten Lifestyle Group PLC Ten Grows Contract to Extra Large Contract (5885F)

TIDMTENG

RNS Number : 5885F

Ten Lifestyle Group PLC

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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October 30, 2018 03:00 ET (07:00 GMT)

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