REG - Tribal Group PLC - Resolution of Dispute with Platfrom Provider

TribalAnnouncement

13/03/2020 07:00

RNS Number : 0182G
  
Tribal Group PLC
  
13 March 2020
  
 

13th March 2020                                     
Tribal Group plc
("Tribal" or the "Group")
 
Tribal (AIM: TRB), a leading provider of software and services to the international education management market, today announces the following.
Following the previous announcement that Tribal Group has resolved its dispute with its software platform provider, the Group announces that it has signed a settlement agreement for payment of the agreed amount of £8.9m for full and final settlement of past royalty disagreements, which will be paid from our existing cash resources. We have also entered into a new 10 year VAR agreement, with effect from 1 January 2020. This provides a platform from which we can develop new modules and enhanced functionality.
For further information please contact:



Tribal Group plc


Tel: 0117 313 6371




Mark Pickett, Chief Executive Officer  
Richard Last, Chairman




























Investec Bank plc


Tel: 020 7597 5970




Sara Hale








William Godfrey


















N+1 Singer Capital Markets Limited


Tel: 0207 496 3000




Shaun Dobson


















Tulchan Communications LLP


Tel: 0207 353 4200




James Macey White








Matt Lowe



























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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