Tribal Group PLC Letter of Claim (0716O)
25 Enero 2019 - 01:00AM
UK Regulatory
TIDMTRB
RNS Number : 0716O
Tribal Group PLC
25 January 2019
25 January 2019
Tribal Group plc
("Tribal" or the "Group")
Tribal (AIM: TRB), a leading provider of software and services
to the international education management market, today announces
the following.
Further to the business update which the Group provided
yesterday and the reference in that announcement to a potential
claim, the Group has yesterday evening received a letter of claim
from lawyers acting for a provider of a software platform on which
a number of the Company's material products are based. The letter
claims that Tribal Education Limited has failed to account properly
for royalties under the terms of a Value Added Reseller Agreement
dated 1 April 2000 and has breached the terms of that agreement.
Whilst no specific amount is claimed the letter of claim estimates
the losses at between GBP15 million and GBP30 million. These claims
date back over a period of more than 18 years during which the
Group has regularly made royalty payments and the Board does not
consider the claims to be justified. The Board intends to defend
these claims vigorously.
Ends
For further information please contact:
Tribal Group plc Tel: 0117 313 6371
Richard Last, Executive Chairman
Mark Pickett, Acting Chief Executive &
Chief Financial Officer
Investec Bank plc Tel: 020 7597 5970
Sara Hale
Andrew Pinder
William Godfrey
N+1 Singer Capital Markets Limited Tel: 0207 496 3000
Shaun Dobson
Tulchan Communications LLP Tel: 0207 353 4200
James Macey White
David Ison
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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contact rns@lseg.com or visit www.rns.com.
END
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