REG - Tribal Group PLC - Update on TAFE Queensland <Origin Href="QuoteRef">TRBG.L</Origin>

TribalAnnouncement

23/05/2016 07:00

RNS Number : 8591Y
Tribal Group PLC
23 May 2016
 
TribalGroupplc
("Tribal" or "the Group") 

Update on TAFE Queensland
As noted in the Group's preliminary results announcement of 16 March 2016, the Group has been in discussions in relation to its contract with TAFE Queensland. Tribal now confirms that it has agreed with TAFE Queensland to end the contract with immediate effect. This is an amicable arrangement.
No current year or future years' revenues or cash receipts have previously been assumed to be received by the Group in its forecasts.Tribal will receive a final payment from TAFE Queensland referable to year to date costs relating to this contract.Therefore the Group's expectations for 2016 and beyond remain unchanged.
Tribal leads the student management system market across Australia and New Zealand, including supplying nearly 40% of all universities, over 50% of New Zealand's Institutes of Technology and Polytechnics, all of TAFE New South Wales and TAFE Tasmania in Further Education, and over 4,000 schools and schools oversight bodies in Australia. Tribal is committed to expanding its offerings to the education market in Australia and New Zealand and will continue to invest in both its software and local presence.
END
Enquiries:

Tribal Group plc
Ian Bowles, Chief Executive
Tel: 0117 311 5293
Investec Bank plc
Rowena Murray 
Sara Hale
Daniel Adams
Tel: 020 7597 4000
N+1 Singer
Shaun Dobson
Tel: 020 7496 3006
Weber Shandwick Financial
Nick Oborne
Tom Jenkins
Tel: 020 7067 0700
Editors'note:
Tribalisaleadingproviderofsoftwareandservicestotheeducationmanagement market.Webuild world-leadingstudentmanagementsoftware,andprovideperformanceimprovementandqualityassurancesolutionsacrossuniversities, collegesandschools,intheUKandinternationally.
MoreinformationaboutTribalisavailableonlineatwww.tribalgroup.com.

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCURSWRNRAVURR