7 Jan 2010 10:20
ILX Group PLC
("ILX" or the "Company")
General Meeting Statement
Results of General Meeting
ILX Group plc (AiM:ILX), the AIM quoted provider of e-learning software and business training to both the private and public sectors, announces that at its General Meeting, held earlier today, its Chief Executive, Ken Scott made the following comments:
"In the last year we have won market share and the number of students passing PRINCE2 exams with ILX has increased, during a period when the overall number of students has fallen. We have also made major advances with our e-learning programmes and inroads into governmental organisations, with several strategically important contracts announced in the final quarter.
"If the proposals to be put forward to shareholders are approved, and this is the first time ILX has looked to raise monies other than for an acquisition, the Board believes that this progress can be continued and accelerated.
"The Company has launched a number of new initiatives that have allowed it to increase market share in the UK and to continue its international expansion and we now look to build upon this."
All resolutions put to the meeting were passed.
Application has been made for 4,070,000 ordinary shares of 25 pence each in the Company ("the Shares") to be admitted to trading on the AiM market of the London Stock Exchange and admission of the Shares is expected to become effective on 8 January 2010.
Following admission of the Shares, the Company will have 23,567,352 ordinary shares in issue. There are no ordinary shares held in Treasury.
The total number of voting rights in ILX is therefore 23,567,352 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, ILX, under the FSA's Disclosure and Transparency Rules.
Having participated in the placing, the Directors of ILX are now interested in shares in the Company as detailed below:
| Director | Number of ordinary shares held prior to placing | Number of new ordinary shares subscribed for | Resultant holding of ordinary shares | Percentage of enlarged issued share capital |
| Ken Scott | 219,328 | 160,000 | 379,328 | 1.61% |
| Jon Pickles | 162,536 | 160,000 | 322,536 | 1.37% |
7th January 2010
For further information, please contact:
| ILX Group plc | 020 7751 7100 |
| Ken Scott, Chief Executive | |
| FinnCap | 020 7600 1658 |
| Marc Young - Corporate Finance Tom Jenkins - Corporate Broking | |
| Lothbury Financial | 020 7011 9411 |
| Michael Padley / Chris Price |
Editors' Note
ILX Group plc (www.ilxgroup.com) is a leading provider of vocational training to the private and public sectors, delivered through e-learning, and instructor-led courses/workshops, and trades through two divisions:
1. Best Practice provides e-learning, instructor-led training and implementation consultancy principally to the programme and project management, IT service management and business finance markets. 2. Banking & Finance provides instructor-led training, workshops and related services, principally to the investment banking community.
ENDS