Resolution of Dispute with Platfrom Provider

Tribal

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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