Ten Lifestyle Group PLC Ten Expands into Scandinavia, Wins First Contract (1143Y)
May 07 2019 - 2:01AM
UK Regulatory
TIDMTENG
RNS Number : 1143Y
Ten Lifestyle Group PLC
07 May 2019
7 May 2019
Ten Lifestyle Group plc
("Ten" or the "Company")
Ten Expands into Scandinavia, Wins First 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 it has expanded
into Scandinavia with a new office opening and a new contract
win.
Ten opened a new office in Oslo, Norway, on 15 April 2019. This
is Ten's first office in Scandinavia and marks a key step towards
achieving the Company's expansion plans in this region, where we
are in discussions with a number of potential clients.
Ten has just signed a contract with DNB Bank ASA ("DNB"), the
largest financial services group in Norway. This contract will see
Ten taking over the provision of concierge services to selected
Family Office customers from the incumbent supplier in June 2019.
This initial launch is expected to be a Small contract(1) and as
our relationship with DNB further develops, may grow into a Medium
contract in financial year 2019/20.
(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); and
-- Medium contracts (between GBP250,000 and GBP2 million).
Alex Cheatle, CEO, Ten Lifestyle Group plc, said;
"We are delighted to be expanding into Scandinavia, a new and
promising geographic territory for us. The Oslo office will enable
us to provide specialist lifestyle and concierge services in
Norwegian and Swedish, as well as English, to HNW customers in this
very affluent region. I am confident that DNB will prove to be a
flagship client for us in the region and we are excited to begin
this new partnership. This expansion represents a further step
towards our goal of achieving a global presence in regions with
high levels of wealthy and affluent potential members."
- 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, Global Head of Brand Marketing
& Communications
Jefferies International Limited, Nominated
Advisor
Simon Hardy +44 (0) 20 7029
Christopher Binks 8000
Peel Hunt LLP, Joint Broker
Edward Knight
Peter Stewart +44 (0) 20 7418
Nick Prowting 8900
Tavistock, Financial PR & IR
Jos Simson
Simon Hudson +44 (0) 20 7920
Jenny Boyd 3150
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading, travel and lifestyle
concierge service, helping wealthy individuals to discover,
organise, and enjoy travel, dining, live entertainment, and the
world of luxury, cheaper, and quicker than they could
themselves.
Underpinned by industry-first technology, Ten provides its
trusted concierge service to its more than 2 million members 24/7,
365 days a year, wherever they are in the world. Founded in 1998,
the growing business now has over 800 staff, 20 global offices and
is listed on the AIM market of the London Stock Exchange (AIM:
TENG).
For further information about Ten Lifestyle Group Plc, please go
to: https://www.tengroup.com/.
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END
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