Tribal Group PLC Update on TAFE Queensland (8591Y)
May 23 2016 - 1:00AM
UK Regulatory
TIDMTRB
RNS Number : 8591Y
Tribal Group PLC
23 May 2016
Tribal Group plc
("Tribal" or "the Group")
Update on TAFE Queensland
As noted in the Group's preliminary results announcement of 16
March 2016, the Group has been in discussions in relation to its
contract with TAFE Queensland. Tribal now confirms that it has
agreed with TAFE Queensland to end the contract with immediate
effect. This is an amicable arrangement.
No current year or future years' revenues or cash receipts have
previously been assumed to be received by the Group in its
forecasts. Tribal will receive a final payment from TAFE Queensland
referable to year to date costs relating to this contract.
Therefore the Group's expectations for 2016 and beyond remain
unchanged.
Tribal leads the student management system market across
Australia and New Zealand, including supplying nearly 40% of all
universities, over 50% of New Zealand's Institutes of Technology
and Polytechnics, all of TAFE New South Wales and TAFE Tasmania in
Further Education, and over 4,000 schools and schools oversight
bodies in Australia. Tribal is committed to expanding its offerings
to the education market in Australia and New Zealand and will
continue to invest in both its software and local presence.
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Enquiries:
Tribal Group plc Tel: 0117 311 5293
Ian Bowles, Chief Executive
Investec Bank plc Tel: 020 7597 4000
Rowena Murray
Sara Hale
Daniel Adams
N+1 Singer Tel: 020 7496 3006
Shaun Dobson
Weber Shandwick Financial Tel: 020 7067 0700
Nick Oborne
Tom Jenkins
Editors' note:
Tribal is a leading provider of software and services to the
education management market. We build world-leading student
management software, and provide performance improvement and
quality assurance solutions across universities, colleges and
schools, in the UK and internationally.
More information about Tribal is available online at
www.tribalgroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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May 23, 2016 02:00 ET (06:00 GMT)