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20 September 2011

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.

For further information, please contact:



ILX Group plc FinnCap Lothbury Financial Services Ltd
Ken Scott,
Chief Executive
Tel: 020 7751 7100

 

Corporate Finance
Marc Young, Charlotte Stranner
Tel: 020 7220 0500

Corporate Broking
Victoria Bates, Joanna Weaving
Tel: 020 7220 0500
Michael Padley, Chris Roberts
Tel: 020 7868 2010
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