Last checked at 18 Sep 2019 07:58
18th September 2019
Tribal Group plc
("Tribal" or "the Group")
Contract Win
Tribal (AIM: TRB), a leading provider of software and services to the international education market, is pleased to announce new contract wins with the Department of Education and Knowledge (ADEK) in Abu Dhabi for Education Services, and Health Education Training Institute (HETI) in Australia for Student Information Systems.
Today's announcement of Tribal's contract win with ADEK is for the full inspection of schools against an agreed framework in Abu Dhabi. The total contract is worth AED28.9m (£6.3m) over two years and work will commence in October this year.
The contract with HETI in Australia is for the implementation of SITS using Tribal's new SITS Accelerate solution, our more standardised version of SITS that reduces implementation effort and enables faster deployment to customers at lower cost. The initial Software as a Service contract is for three years and is worth AUD0.5m (£0.3m).
Mark Pickett, Chief Executive Officer of Tribal, commented:
"Tribal Group are excited about reigniting the strong relationship with ADEK. We have worked with ADEK for a number of years and have had great success in supporting their drive to provide high quality education. We know we work well with ADEK and are confident that the relationship will continue to flourish as we grow and prosper as a company. It is also pleasing to win a new SITS customer in Australia and we look forward to winning further SITS Accelerate customers. The Board's financial expectations for the full year remain unchanged."
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Tribal Group plc | Tel: 0117 311 5293 | |||
Mark Pickett, Chief Executive Officer Paul Simpson, Acting Chief Financial Officer |
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Investec Bank plc | Tel: 020 7597 5970 |
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Sara Hale Andrew Pinder Will Godfrey Neil Coleman |
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N+1 Singer Capital Markets LimitedShaun Dobson
Tulchan Communications LLP James Macey White David Ison Sophie Duckworth | Tel: 020 7496 3000
Tel: 020 7353 4200 |
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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.
This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed. This Statement may contain forward-looking statements. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements.