NTU Contract Update

Tribal Group PLC

02 May 2023

 

2 May 2023

Tribal Group plc

("Tribal" or "the Group")

NTU Contract Update

Further to the announcement released on 20 March 2023 that Nanyang Technological University ("NTU") had purportedly terminated its contract, Tribal received an interim demand for payment of damages on 28 April 2023 from NTU ("NTU Demand").

The NTU Demand is in the amount of S$9,943,419.71 (SGD) on account of alleged loss, costs and expense. It asserts that the full extent of damages is being assessed, with further amounts to be notified. Payment is requested within 14 days.

The Company has sought legal advice regarding NTU's Demand and intends to dispute NTU's Demand and to defend any legal action that NTU may care to pursue.

Tribal Group plc	Tel: [phone]
Mark Pickett, Chief Executive Officer Diane McIntyre, Chief Financial Officer
Investec Bank plc (NOMAD & Joint Broker)	Tel: [phone]
Virginia Bull, Will Godfrey, Nick Prowting
Singer Capital Markets (Joint Broker)	Tel: [phone]
Shaun Dobson, Tom Salvesen, Alex Bond
Alma PR	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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