Completion of Acquisition

RNS Number : 3081M

Tribal Group PLC

27 January 2009

 



Tribal Group plc

Completion of Acquisition of Newchurch 

On 16 January 2009, Tribal Group plc ('Tribal' or the 'Group'), the provider of consultancy, support and delivery services to the public sector in the UK and internationally, announced the acquisition of Newchurch Limited ('Newchurch'). Tribal confirms that completion of the acquisition has taken place today and Tribal now owns all of Newchurch's issued share capital.

As previously announced, as part of the initial and further consideration for the acquisition, Tribal will be issuing new ordinary shares of 5p each in Tribal ('New Tribal Shares').

At completion, as part of the initial consideration, Tribal became obligated to issue a total of 2,418,073 New Tribal Shares to various vendors.

Application will be made for the admission of the New Tribal Shares to trading on the Main Market of The London Stock Exchange ('Main Market').  It is expected that the New Tribal Shares will commence trading on the Main Market on 2 February 2009.  The New Tribal Shares will rank pari passu in all respects with the existing ordinary shares of 5p each in Tribal. 

Except as disclosed in this announcement, there has been no significant change affecting any matter contained in the notification made by Tribal on 16 January 2009 and no other significant new matter has arisen which would have been required to be mentioned in the earlier notification if it had arisen at the time of that notification

Ends

For further information, please contact: 

Tribal Group plc                                                                  Telephone: [phone] 

Peter Martin, Chief Executive 

Simon Lawton, Group Finance Director 

Maitland                                                                              Telephone: [phone] 

Colin Browne 

Anthony Silverman 

Editors' note: 

Tribal provides a range of consultancy, support and delivery services focused on improving the delivery of public services in the UK and internationally. Our core markets are in education, health, housing and regeneration, central government and local government.  Tribal employs approximately 2,300 staff and its shares are quoted on the London Stock Exchange (TRB). 

Links: Tribal Group plc website: www.tribalgroup.co.uk 

 

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