Tribal Group PLC
16 May 2001
Tribal Group plc ('Tribal Group' or the 'Company')
Acquisition of the business and assets of The Cambridgeshire Partnership ('The
Cambridgeshire Partnership')
Tribal Group is pleased to announce the acquisition of the business and assets
of The Cambridgeshire Partnership. The Cambridgeshire Partnership is a well
established and respected education consultancy partnership based in
Huntingdon and Leicester. Its principal areas of activity comprise OFSTED
inspections, and management training and consultancy for LEAs and schools.
The Cambridgeshire Partnership will become a division of Tribal Education
Limited which has been formed to capitalise on partnership contracts with
LEAs, other public sector organisations and schools.
The consideration of £200,000 is to be satisfied by the issue of 46,850
ordinary shares of 5p each in Tribal Group ('New Tribal Group Shares') and £
74,910 in cash.
Application has been made for admission of the New Tribal Group Shares to
trading on the Alternative Investment Market of the London Stock Exchange ('
AIM'). It is expected that the New Tribal Group Shares will commence trading
on AIM on 17 May 2001. The New Tribal Group Shares will rank pari passu in
all respects with the existing ordinary shares of the Company.
Commenting on this announcement, Henry Pitman, Chief Executive of Tribal Group
said:
'We are delighted that The Cambridgeshire Partnership has joined Tribal
Education. This acquisition will accelerate the development of work in
support of Local Education Authorities and schools. Tribal is now actively
involved with over 20 LEAs in England.'
For further information contact:
Henry Pitman, Chief Executive - Tribal Group plc - 01386 702900
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