Tribal Group Court Orders Cancellation Of Share Premium Account

17th Jun 2010 12:18

LONDON (Dow Jones)--Tribal Group PLC (TRB.LN), a provider of public sector services in the U.K. and internationally, said Thursday the High Court issued an order sanctioning the cancellation of the Company's share premium account. MAIN FACTS: -Tribal has given certain undertakings to the Court in relation to the reserve arising on the cancellation for the protection of the Company's creditors. -Accordingly, the reserve arising will remain undistributable until such undertakings have been discharged in respect of all relevant creditors of the Company on the effective date of the cancellation. -On June 17, Tribal received from Companies House the certificate of registration of the Court order. -Accordingly the cancellation of the Company's share premium account is now effective. -Shares at 1116 GMT unchanged at 70.0 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 17, 2010 07:18 ET (11:18 GMT)