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On 5 November 2021, Ten Lifestyle Group plc announced it won a second contract with DNB Bank ASA, Norway's largest financial services group. This new mandate sees Ten immediately taking over concierge services for selected Private Banking customers and launching digital services in the spring, which is expected to double the size of the existing contract and is categorised as an expanding Medium contract (between £0.25m and £2m annualised value).
| Date | 5 Nov 2021 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 4316R |
5 November 2021
Ten Lifestyle Group plc
("Ten" or the "Group")
Ten Wins Second Contract with DNB in Norway
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world's wealthy and mass affluent, is pleased to announce it has won a second contract with DNB Bank ASA ("DNB"), the largest financial services group in Norway.
The new mandate sees Ten immediately taking over the provision of concierge services to selected Private Banking customers from the incumbent supplier and launch its digital services in the spring. This is expected to double the size of the existing contract, categorised as an expanding Medium contract1.
Since opening the Group's Oslo office in April 2019, Ten has enhanced its service capabilities in Scandinavia, delivered in Norwegian, Swedish as well as English, improving its proposition to members and corporate clients in the region.
This contract expansion is incorporated within the Group's existing growth plan.
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 £0.25m); Medium contracts (between £0.25m and £2m); Large contracts (between £2m and £5m); and Extra Large contracts (over £5m). This does not include the revenue generated from suppliers through the provision of concierge services.
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For further information, please visit https://www.tenlifestylegroup.com/ or contact:
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Ten Lifestyle Group Plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer |
+44 (0)20 7850 2796 |
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Peel Hunt LLP, Nominated Advisor and Broker Edward Knight Paul Gillam James Smith |
+44 (0) 20 7418 8900 |
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Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading technology-enabled, global concierge platform, helping wealthy and mass affluent individuals and their families to discover, organise, and enjoy dining, live entertainment, travel and premium retail (and other relevant services) with better results and more quickly than they could themselves.
Underpinned by industry-first technology, Ten provides its trusted concierge services to millions of members, in over 15 languages, 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the business listed on the AIM market of the London Stock Exchange in November 2017 (AIM: TENG).
The growth engine at the heart of Ten's business model is the driving force behind its progress towards its objective to become the most trusted service platform in the world.
For further information please go to: www.tenlifestylegroup.com.