Ten Lifestyle Group PLC Ten Wins Contract with ICBC (3782K)
December 13 2018 - 4:04AM
UK Regulatory
TIDMTENG
RNS Number : 3782K
Ten Lifestyle Group PLC
13 December 2018
13 December 2018
Ten Lifestyle Group plc
("Ten" or the "Company")
Ten Wins Contract with ICBC Private Banking Department
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 won a new
contract with ICBC Private Banking Department, to provide
high-touch travel and lifestyle concierge services to a select
group of its high-net-worth clients based in China.
The service is due to launch in January 2019 as a Small
contract(1) and is expected to potentially grow into a Medium
contract in the 2019/20 financial 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 follows:
-- Small contracts (below GBP250,000); and
-- Medium contracts (between GBP250,000 and GBP2 million);
This does not include the revenue generated from suppliers
through the provision of concierge services.
ICBC Private Banking Department;
"After a competitive tender we were happy to appoint Ten
Lifestyle Group plc as a premium travel and lifestyle concierge
partner. We were impressed by the team we met, their digital
platform and their global reach. We hope this is the start of a
strong partnership in China."
Andrew Long, CEO Asia Pacific, Ten Lifestyle Group plc,
said;
"We are honoured to have been chosen by ICBC to support their
most valuable clients in China and thrilled to be working with the
world's largest bank. We see this as a fantastic opportunity to
grow our already sizeable operation in mainland China"
- 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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