Ten Lifestyle Group PLC Ten Wins Contract with Absa Bank Limited (4685Q)
19 February 2019 - 7:35PM
UK Regulatory
TIDMTENG
RNS Number : 4685Q
Ten Lifestyle Group PLC
19 February 2019
19 February 2019
Ten Lifestyle Group plc
("Ten" or the "Company")
Ten Wins Contract with Absa Bank Limited
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 Absa Bank Limited ("Absa"), a South African financial
services provider, to provide digital and high-touch travel and
lifestyle concierge services to its private banking clients in
South Africa. Absa's customers will primarily be serviced out of
Ten's Cape Town office.
The service is due to launch from March 2019 as a Small
contract(1) and is expected to 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).
Alex Cheatle, CEO, Ten Lifestyle Group plc, said;
"We are delighted to have been selected by Absa to supply their
private banking clients with our services. Their high-value
customers will be able to choose from dining, live entertainment,
retail, and more online, as well as use Ten's high-touch concierge
service. We are also extremely excited to be expanding our reach in
South Africa and are very much looking forward to the launch of
this new partnership."
- 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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