Acquisition of minority inter

RNS Number : 9956C

Tribal Group PLC

24 November 2009

 



Tribal Group plc

Acquisition of minority interests of Avail Consulting Limited

Tribal Group plc ("Tribal"), a leading provider of professional services to the public sector in the UK and internationally, is pleased to announce the acquisition of all of the minority interests in its subsidiary, Avail Consulting Limited ("Avail") for £2.80m.  Avail is now wholly-owned by Tribal and will be integrated into Tribal's new Government Services business stream.

All of the Avail employee shareholders have served transfer notices, including two who are directors of Avail. These employee shareholders will receive £2.58m in cash and £0.22m to be satisfied by the issue of Tribal shares which they are required to hold for a minimum period of twelve months. The Avail shares being sold represent in aggregate 36.2 per cent of the issued share capital of Avail.

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For further information, please contact: 

Tribal Group plc                                               Telephone: [phone] 

Peter Martin, Chief Executive 

Simon Lawton, Group Finance Director 

Editors' note: 

Tribal provides professional services focused on improving the delivery of public services in the UK and internationally. Our core markets are in education, health, central government, local government and housing. Tribal employs over 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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