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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 Medium1 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 £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. 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/.
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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 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 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.
| Date | 20 Feb 2023 |
| Time | 07:00:02 |
| Category | Corporate updates |
| ID | 3535Q |