23 Feb 2024 07:00
23 February 2024
Tribal Group plc ("Tribal" or "the Group")
NTU Contract Update
Further to the announcement on 2 May 2023, Tribal is now entering into a mediation process with Nanyang Technological University ("NTU").
NTU has updated its demand for damages allegedly incurred as a result of its purported termination of its contract (as previously announced) ("NTU Demand"). The updated NTU Demand is in the amount of SGD17,511,651 and USD377,724 on account of alleged damages, losses, costs and/or expenses. NTU reserves the right to update the quantification of its demand.
The Company has sought legal advice regarding NTU's Demand which it intends to vigorously dispute.
Enquiries: Tribal Group plc |
via Alma Strategic |
Mark Pickett, Chief Executive Officer Diane McIntyre, Chief Financial Officer | |
Investec Bank plc (NOMAD & Joint Broker) | Tel: +44 (0) 20 7597 5970 |
Virginia Bull, Nick Prowting, Tom Brookhouse | |
Singer Capital Markets (Joint Broker) | Tel: +44 (0) 20 7496 3000 |
Shaun Dobson, Tom Salvesen, Alex Bond | |
Alma Strategic Communications | Tel: +44 (0)203 405 0205 |
Caroline Forde, Hannah Campbell, Will Ellis Hancock |
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.
Tribal Grp. (TRB)