Resolution of Dispute with Platfrom Provider

RNS Number : 0182G

Tribal Group PLC

13 March 2020

 

13^th March 2020 

Tribal Group plc

("Tribal" or the "Group")

Tribal (AIM: TRB), a leading provider of software and services to the international education management market, today announces the following.

Following the previous announcement that Tribal Group has resolved its dispute with its software platform provider, the Group announces that it has signed a settlement agreement for payment of the agreed amount of £8.9m for full and final settlement of past royalty disagreements, which will be paid from our existing cash resources. We have also entered into a new 10 year VAR agreement, with effect from 1 January 2020. This provides a platform from which we can develop new modules and enhanced functionality.

For further information please contact:

Tribal Group plc	Tel: [phone]
Mark Pickett, Chief Executive Officer  Richard Last, Chairman
Investec Bank plc	Tel: [phone]
Sara Hale
William Godfrey
N+1 Singer Capital Markets Limited	Tel: [phone]
Shaun Dobson
Tulchan Communications LLP	Tel: [phone]
James Macey White
Matt Lowe

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.

 

END

 

 

AGRJTMMTMTABTTM