REG - Tribal Group PLC - NTU Contract Update

TribalAnnouncement

02/05/2023 07:00

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RNS Number : 9800X  Tribal Group PLC  02 May 2023

2 May 2023

Tribal Group plc

("Tribal" or "the Group")

 

NTU Contract Update

 

Further to the announcement released on 20 March 2023 that Nanyang
Technological University ("NTU") had purportedly terminated its contract,
Tribal received an interim demand for payment of damages on 28 April 2023 from
NTU ("NTU Demand").

 

The NTU Demand is in the amount of S$9,943,419.71 (SGD) on account of alleged
loss, costs and expense. It asserts that the full extent of damages is being
assessed, with further amounts to be notified. Payment is requested within 14
days.

 

The Company has sought legal advice regarding NTU's Demand and intends to
dispute NTU's Demand and to defend any legal action that NTU may care to
pursue.

 

 Tribal Group plc                                       Tel: +44 (0) 117 311 5293
 Mark Pickett, Chief Executive Officer

 Diane McIntyre, Chief Financial Officer

 Investec Bank plc (NOMAD & Joint Broker)             Tel: +44 (0) 20 7597 5970
 Virginia Bull, Will Godfrey, Nick Prowting

 Singer Capital Markets (Joint Broker)                Tel: +44 (0) 20 7496 3000
 Shaun Dobson, Tom Salvesen, Alex Bond

 Alma PR                                              Tel: +44 (0)203 405 0205
 Caroline Forde, Hannah Campbell, Will Ellis Hancock

 

About Tribal Group plc

 

Tribal Group plc is a pioneering world-leader of education software and
services. Its portfolio includes Student Information Systems; a broad range of
education services covering quality assurance, peer review, benchmarking and
improvement; and student surveys that provide the leading global benchmarks
for student experience. Working with Higher Education, Further and Tertiary
Education, schools, Government and State bodies, training providers and
employers, in over 55 countries; Tribal Group's mission is to empower the
world of education with products and services that underpin student success.

 

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