Tribal Group Settles Contract Dispute with NTU

Tribal Group plc (GB:TRB) has released an update.

Tribal Group plc has reached a settlement with Nanyang Technological University (NTU), agreeing to pay £3.1 million over 18 months to resolve disputes from a terminated contract. The settlement will result in an exceptional charge of £2.5 million recognized in early 2024, following a previous charge in 2023. This financial resolution is expected to be covered by the company’s cash flow without admitting any liability.

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