NTU Contract Update

Tribal Group PLC

23 February 2024

 

23 February 2024

Tribal Group plc
("Tribal" or "the Group")

NTU Contract Update

Further to the announcement on 2 May 2023, Tribal is now entering into a mediation process with Nanyang Technological University ("NTU").

NTU has updated its demand for damages allegedly incurred as a result of its purported termination of its contract (as previously announced) ("NTU Demand"). The updated NTU Demand is in the amount of SGD17,511,651 and USD377,724 on account of alleged damages, losses, costs and/or expenses.  NTU reserves the right to update the quantification of its demand.  

The Company has sought legal advice regarding NTU's Demand which it intends to vigorously dispute. 

Enquiries: Tribal Group plc	via Alma Strategic
Mark Pickett, Chief Executive Officer Diane McIntyre, Chief Financial Officer
Investec Bank plc (NOMAD & Joint Broker)	Tel: [phone]
Virginia Bull, Nick Prowting, Tom Brookhouse
Singer Capital Markets (Joint Broker)	Tel: [phone]
Shaun Dobson, Tom Salvesen, Alex Bond
Alma Strategic Communications	Tel: [phone]
Caroline Forde, Hannah Campbell, Will Ellis Hancock

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.

 

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