REG - Tribal Group PLC - NTU Contract Update

TribalAnnouncement

23/02/2024 07:00

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RNS Number : 1881E  Tribal Group PLC  23 February 2024

23 February 2024

Tribal Group plc
("Tribal" or "the Group")

NTU Contract Update

Further to the announcement on 2 May 2023, Tribal is now entering into a
mediation process with Nanyang Technological University ("NTU").

NTU has updated its demand for damages allegedly incurred as a result of its
purported termination of its contract (as previously announced) ("NTU
Demand"). The updated NTU Demand is in the amount of SGD17,511,651 and
USD377,724 on account of alleged damages, losses, costs and/or expenses.  NTU
reserves the right to update the quantification of its demand.

The Company has sought legal advice regarding NTU's Demand which it intends to
vigorously dispute.

 

 Enquiries:

 Tribal Group plc

                                                      via Alma Strategic
 Mark Pickett, Chief Executive Officer

 Diane McIntyre, Chief Financial Officer

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

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

 Alma Strategic Communications                        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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