Ten Lifestyle Group PLC New contract in Americas and Capital Markets Day (3535Q)
February 20 2023 - 2:00AM
UK Regulatory
TIDMTENG
RNS Number : 3535Q
Ten Lifestyle Group PLC
20 February 2023
20 February 2023
Ten Lifestyle Group plc
("Ten" or the "Group")
Ten to launch a new programme in the Americas and host a Capital
Markets Day
Ten Lifestyle Group plc (AIM: TENG), the platform driving
customer loyalty for global financial institutions and other
premium brands, is pleased to announce that it has won a new
mandate in the Americas and has materially developed an existing
contract in EMEA.
-- Ten has won a new mandate to launch a new digitally enabled
concierge programme in the Americas to premium customers in the
second half of calendar year 2023. Once launched, this new mandate
is expected to achieve the equivalent of a Medium (1) contract.
-- A banking product on-sale with a corporate client in EMEA,
that includes Ten's digitally enabled concierge and lifestyle
services, has proved popular with its customers. This has resulted
in the corporate client agreeing to pay Ten materially more per
member to further drive their customer loyalty objectives. This is
expected to grow the existing Medium contract to a Large contract
this financial year.
Ten continues its record of retaining all Material Contracts for
over three years.
These contract developments are incorporated within the Board's
current expectations for the year.
(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 GBP0.25m); Medium contracts (between
GBP0.25m and GBP2m); Large contracts (between GBP2m and GBP5m); and
Extra Large contracts (over GBP5m). 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".
Capital Markets Day
Ten will host a Capital Markets Day for institutional investors
and analysts on the morning of Tuesday, 21 March 2023.
Hosted by Alex Cheatle, CEO, together with Alan Donald, CFO, and
senior leaders from across the Group, the team will present the key
proposition developments, strategic opportunities and financial
outcomes of the growth engine at the heart of Ten's business
model.
Institutional investors and analysts are invited to register
their attendance by emailing Investorrelations@tengroup.com .
A copy of the Capital Markets Day presentation will be made
available following the meeting at
https://tenlifestylegroup.com/investors/resources/ .
- End -
For further information, please visit
https://www.tenlifestylegroup.com/ or contact:
Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and
Broker
Paul Gillam +44 (0) 20 7418
James Smith 8900
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc partners with global financial
institutions and other premium brands to attract and retain wealthy
and mass affluent customers.
Millions of members have access to Ten's services across
lifestyle, travel, dining, entertainment and retail benefits on
behalf of over fifty clients including HSBC, Coutts, Morgan Stanley
and Royal Bank of Canada. Ten's partnerships are based on
multi-year contracts generating revenue through
platform-as-a-service and technology fees.
Ten's operations are underpinned by an increasingly
sophisticated personalisation platform comprising industry-first,
proprietary technology, thousands of supplier relationships and 25
years of proprietary expertise delivered from 22 global
offices.
Ten is on a mission to become the most trusted service platform
in the world.
For further information please go to: www.tenlifestylegroup.com
.
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END
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