REG - Tribal Group PLC - Update on AGM date and payment of FY19 dividend

TribalAnnouncement

07/04/2020 07:01

RNS Number : 9783I
  
Tribal Group PLC
  
07 April 2020
  
 

7 April 2020
Tribal Group plc
("Tribal", the "Company" or the "Group")
 
AGM date / Update on payment of 2019 final dividend
Tribal, a leading provider of software and services to the international education management market, announces that the Board has revised the date for the Annual General Meeting (AGM) which will now take place on 24 June 2020.  Further details will be circulated in due course and posted on the Company's website.
In order to help us to serve the needs of the business through the extraordinary challenges presented by Coronavirus (COVID-19), management have implemented significant cash and cost-saving measures which materially impact all staff.  As a result, the Board no longer considers it appropriate to pay the final 2019 dividend in relation to ordinary shares, which was expected to be paid in July.  Accordingly, the resolution in relation to the declaration of this dividend will not be put forward at the AGM. Through retaining this distribution, £2.5m of cash will remain in the business and further strengthen the balance sheet.
The Group remains well-capitalised, with a strong balance sheet and £10m of committed loan facilities in place.
 
Enquiries:



Tribal Group plc


Tel: 0117 311 5293




Mark Pickett, Chief Executive Officer
Paul Simpson, Acting Chief Financial Officer
 
 


















Investec Bank plc


Tel: 020 7597 5970








Sara Hale
Virginia Bull
Will Godfrey
 
 


























N+1 Singer Capital Markets Limited

Shaun Dobson
 
Tulchan Communications LLP                           
James Macey White
Matt Low
 


Tel: 020 7496 3000
 
Tel:  020 7353 4200                 



















































 
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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