Ten Expands Contract with Barclays Bank UK plcSource: RNS
20 September 2021
Ten Lifestyle Group plc
("Ten" or the "Group")
Ten Expands Contract with Barclays Bank UK plc
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 that it has secured a multiple-year renewal of its contract with Barclays Bank UK plc, one of Ten's longstanding corporate clients.
Ten's concierge and lifestyle services, including Ten's proprietary digital platform, will soon be made available to all Barclays Bank personal current account holders with the Barclays Travel Plus Pack. This will replace access to Ten's services via the retiring Barclays Bank Home Pack product, which has been off-sale for a number of years.
The existing Medium1 contract is expected to grow as a result of the service being attached to an 'on-sale' banking product with a larger customer base.
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:
Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer
Alan Donald, Chief Financial Officer
+44 (0)20 7850 2796
Peel Hunt LLP, Nominated Advisor and Broker
+44 (0) 20 7418 8900
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 its more than 2 million members, 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.