Business
Ten Expands into Scandinavia, Wins First Contract
Ten Expands into Scandinavia, Wins First Contract.
About this update from Ten Lifestyle Group Plc
[{"type":"text","content":"\n \nRNS Number : 1143Y Ten Lifestyle Group PLC 07 May 2019 \n\n7 May 2019\nTen Lifestyle Group plc\n(\"Ten\" or the \"Company\")\nTen Expands into Scandinavia, Wins First Contract\n \nTen 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 expanded into Scandinavia with a new office opening and a new contract win.\n \nTen opened a new office in Oslo, Norway, on 15 April 2019. This is Ten's first office in Scandinavia and marks a key step towards achieving the Company's expansion plans in this region, where we are in discussions with a number of potential clients.\n \nTen has just signed a contract with DNB Bank ASA (\"DNB\"), the largest financial services group in Norway. This contract will see Ten taking over the provision of concierge services to selected Family Office customers from the incumbent supplier in June 2019. This initial launch is expected to be a Small contract1 and as our relationship with DNB further develops, may grow into a Medium contract in financial year 2019/20. \n \n(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:\n \n· Small contracts (below £250,000); and\n· Medium contracts (between £250,000 and £2 million).\n \nAlex Cheatle, CEO, Ten Lifestyle Group plc, said;\n \n\"We are delighted to be expanding into Scandinavia, a new and promising geographic territory for us. The Oslo office will enable us to provide specialist lifestyle and concierge services in Norwegian and Swedish, as well as English, to HNW customers in this very affluent region. I am confident that DNB will prove to be a flagship client for us in the region and we are excited to begin this new partnership. This expansion represents a further step towards our goal of achieving a global presence in regions with high levels of wealthy and affluent potential members.\"\n \n- End -\n \nFor further information, please visit https://www.tengroup.com/ or contact:\n \n\n\n\nTen Lifestyle Group Plc\nAlex Cheatle, Chief Executive Officer\nSean Hegarty, Chief Financial Officer\nKerry...