Cancellation of Share Premium

RNS Number : 7986N

Tribal Group PLC

17 June 2010

 



Tribal Group plc

Cancellation of Share Premium Account

Tribal Group plc (Tribal), a leading provider of public sector services in the UK and internationally, is pleased to announce that on 16 June 2010 the High Court issued an order sanctioning the cancellation of the Company's share premium account.  Tribal has given certain undertakings to the Court in relation to the reserve arising on the cancellation for the protection of the Company's creditors.  Accordingly, the reserve arising will remain undistributable until such undertakings have been discharged in respect of all relevant creditors of the Company on the effective date of the cancellation.

On 17 June 2010, Tribal received from Companies House the certificate of registration of the Court order.  Accordingly the cancellation of the Company's share premium account is now effective. 

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For further information, please contact:  

Tribal Group plc                                                             Telephone: [phone]  

Peter Martin, Chief Executive  

Steve Breach, Group Finance Director  

Weber Shandwick Financial                                            Telephone: [phone]

Nick Oborne

Stephanie Badjonat

Clare Thomas                                        

Editors' note:  

Tribal is a leading public sector services company.  We provide service delivery, advisory and technology solutions focused on improving the quality and effectiveness of public services in the UK and internationally. Tribal's core markets are education, health and government.  

Our people are sector experts and we work in partnership with a wide range of organizations, including schools, hospitals, local authorities, housing associations and government departments. Tribal has 2,000 staff and our work spans 40 countries across the world. Tribal's shares are quoted on the London Stock Exchange (TRB). Links: Tribal Group plc website: www.tribalgroup.com.

This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed.

This Statement may contain forward-looking statements. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements.

 

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