31 Aug 2005 13:59
ILX Group PLC31 August 2005 ILX Group plc Capital Reduction ILX Group plc ('ILX Group'), the AIM quoted education and training company,announces that on 24 August 2005, the High Court of Justice confirmed (a) thereduction of the capital of the Company from £4,500,000 divided into 16,630,740Ordinary Shares of 10p each and 28,369,260 Special Non-voting Deferred Shares of10p each to £1,663,074 divided into 16,630,740 Ordinary Shares of 10p each and(b) the reduction of the share premium account of the Company. On 30th August2005 the Registrar of Companies confirmed the registration of the Order of theCourt and the capital reduction is now effective. Paul Lever, Chairman of ILX Group, said: "This exercise has been important as it provides the Company with additionaloptions to ensure that the value created by the business flows through toshareholders. It has meant we have written off accumulated balance sheet lossesand created a distributable reserve which will be added to by future profits.This will enable the Company to adopt an appropriate dividend policy for comingyears and/or to commence a share buy-back programme should the Board believe itto be appropriate." For further information, please contact: ILX Group plc Binns & Co PR LtdKen Scott Paul McManusTel: 020 7371 4444 Tel: 020 7153 1485www.ilxgroup.com Mob: 07980 541 893 Editor's Notes ILX Group plc is a leading provider of Project Management, IT, and BusinessFinance Training, delivered primarily through Computer Based Training (CBT) ande-Learning software, supplemented with more traditional classroom courses andworkshops. ILX Group currently trades through four divisions: • Intellexis (www.intellexis.com) - Global supplier of Financial Awareness Training • Key Skills (www.ksl.org) - Specialists in Multimedia based PRINCE2 and ITIL training • Computa-Friendly (www.computa-friendly.co.uk) - Specialists in Software Training and eLearning Information Systems • Mindscope (www.mindscope-uk.com) - The PRINCE2 Classroom training company This information is provided by RNS The company news service from the London Stock Exchange