(Alliance News) - Tribal Group PLC on Friday said it has entered a mediation process with Nanyang Technological University, Singapore, following the termination of a contract, adding that it will "vigorously dispute" its claim.
The Bristol-based educational software and services provider said in March last year that Singapore's NTU decided to terminate its contract with Tribal and had reserved rights to claim damages.
NTU demanded payment of USD9.9 million for damages on account of alleged loss, costs and expenses. Tribal rejected this demand and has since been engaged in private settlement negotiations with the university.
On Friday, Tribal said NTU is now demanding USD377,724.
The contract was originally announced back in April 2021. In February, the company said significant delays in its Singapore contract hurt its overall trading in 2022.
Tribal explained then that the delays came as a result of "changing scope and complexity", adding that discussions with the Singapore customer had not progressed satisfactorily.
Shares in Tribal fell 3.5% to 41.90 pence each in London on Friday afternoon.
By Sabrina Penty, Alliance News reporter
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Tribal Grp. (TRB)