TIDMILX

RNS Number : 1766D

ILX Group PLC

18 March 2011

ILX Group plc

(the "Company")

Result of High Court hearing

Following the General Meeting held on 14 February 2011 at which the resolution put to shareholders regarding the cancellation of the Company's share premium account was duly passed, the Company is pleased to confirm that a High Court Order was obtained on 16 March 2011 confirming the cancellation of the share premium account of the Company.

As set out in the Company's interim accounts for the six months ended 30 September 2010, the Company had an accumulated deficit on its profit and loss reserve of GBP8,626,000. The High Court Order has resulted in the creation of a new reserve of GBP12,848,000 against which the Company expects to credit its profit and loss reserve.

Once the Company has an accumulated surplus on its profit and loss account, it will be in a position to pay dividends thereafter, should the Board recommend such payment.

18(th) March 2011

For further information, please contact:

 
 ILX Group plc                     020 7751 7100 
 Ken Scott, Chief Executive 
 FinnCap                           020 7600 1658 
 Marc Young, Charlotte Stranner 
  - Corporate Finance 
  Tom Jenkins, Joanna Weaving 
  - 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 vocational training to the private and public sectors, offering a variety of accredited courses, delivered through e-learning. It has developed its own proprietary software and is the market leader in PRINCE2. It 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. International was formed in late 2009 and provides e-learning and implementation consultancy in overseas markets. Offices have been established in Australia, Dubai, Denmark, The Netherlands, and USA.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

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