20 Sep 2011 10:30
ILX GROUP PLC
("ILX" or "the Group")
AGM STATEMENT
At its Annual General Meeting held today, Paul Lever, the Chairman of ILX Group plc, the AIM quoted provider of e-learning software and business training, made the following comments:
"Despite the prolonged difficulties in world markets we continue to win business, especially overseas. Since the publication of the results for 2010/11 in June we have announced a NZ$500,000 contract win with the New Zealand Defence Force and have continued to see growth in revenues and profits.
"The dividend has been restored and shareholders again have the option of a scrip payment.
"I said last year that the Group's unique strength lies in its proprietary software products and this has proven to be the case as the percentage of revenue from this source continues to increase, which in turn helps to improve margins. As a result we were reclassified by the Stock Exchange in June this year as a software company.
"In summary, we remain confident regarding the outcome for the year; the UK is performing in line with expectations, we are seeing sustained growth overseas and we have experienced a continued shift towards software sales. Overall, the Board is pleased with the progress the Company has made".
All resolutions put to the meeting were passed.
In addition, the Board of ILX announces that it has received elections for scrip dividends in respect of 11,712,272 ILX ordinary shares, representing 43.4% of the Company's issued share capital. This will result in the issue of 620,796 new ordinary shares, representing 2.3% of the Company's issued share capital, which will rank pari passu with all existing ILX shares. Application will be made for admission of the new ILX shares to trading on AIM and dealings are expected to commence on 14 October 2011.
20th September 2011
For further information, please contact:
ILX Group plc | 020 7751 7100 |
Ken Scott, Chief Executive | |
FinnCap | 020 7220 0500 |
Marc Young - Corporate Finance Tom Jenkins - Corporate Broking
| |
Lothbury Financial Services Limited | 020 7868 2010 |
Michael Padley / Chris Roberts |
Editors' Note
ILX Group plc (www.ilxgroup.com) is a leading provider of Best Practice learning products and services to the private and public sectors. ILX Group offers a variety of accredited technology led courses through a blend of traditional classroom, workshops & live forums and across all multi-media platforms: e-learning, social learning & mobile learning. It has developed its own proprietary software and is the market leader in PRINCE2. It trades through two divisions:
1. Best Practiceprovides e-learning, instructor-led learning and implementation consulting principally to the programme and project management, IT service management and business finance markets.
2. International was formed in late 2009 and provides products and services to overseas markets, including Australia, New Zealand, Middle East, US and across Europe.