Acquisition

Tribal Group PLC 31 May 2002 Tribal Group plc 31 May 2002 Acquisition of Malcolm Judd & Partners ('MJP') Tribal Group plc ('Tribal'), the provider of professional support services to the UK public sector, is pleased to announce the completion of the acquisition of MJP. MJP provides planning and property consultancy services. It operates in the education sector, principally working with further education colleges and schools. MJP also has a number of private sector clients including Slough Estates, Boots, B&Q and Dixons. It has worked closely with Tribal's property services business and will form part of that division's activities. MJP has operated as a partnership. Tribal has purchased 100 per cent. of the business and assets of the partnership. The draft audited accounts of MJP for the year ended 30 April 2002 show normalised operating profit of £493,000 on gross fee income of £972,000. The initial consideration of £3.21 million is to be satisfied by: • £2.64 million in cash; and • the issue of 159,216 new ordinary shares of 5p each in Tribal ('New Tribal Shares') Deferred consideration of up to £1.65 million will be paid based on the growth in operating profit of MJP in the three years ending 31 March 2005. The deferred consideration will be satisfied by the issue of new Tribal shares or, at Tribal's option, bank guaranteed loan notes. Application has been made for admission of the New Tribal Shares to trading on the Alternative Investment Market of the London Stock Exchange ('AIM'). It is expected that the New Tribal Shares will commence trading on AIM on 7 June 2002. The New Tribal Shares will rank pari passu in all respects with the existing ordinary shares of 5p each in Tribal. Commenting on the announcement, Henry Pitman, Chief Executive of Tribal, said: 'The acquisition of MJP will complement and strengthen the activities of our property services business and will allow us to provide our education, health and other customers with a more comprehensive range of services.' For further information contact: Henry Pitman, Chief Executive Tel:01386 702900 Tribal Group plc END This information is provided by RNS The company news service from the London Stock Exchange

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Tribal Group (TRB)
UK 100

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