AIM Schedule 1 - ILX Group Plc (5783O)
21 September 2013 - 2:06AM
UK Regulatory
TIDMILX
RNS Number : 5783O
AIM
20 September 2013
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
-------------------------------------------------------------------------
COMPANY NAME:
-------------------------------------------------------------------------
ILX Group plc ("the Company" or "the Group") to be renamed
Progility plc on admission
-------------------------------------------------------------------------
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
-------------------------------------------------------------------------
2(nd) Floor, Strand Bridge House, 138-142 The Strand, London,
WC2R 1HH
-------------------------------------------------------------------------
COUNTRY OF INCORPORATION:
-------------------------------------------------------------------------
England & Wales
-------------------------------------------------------------------------
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
-------------------------------------------------------------------------
www.ilxgroup.com (www.progility.com - from Admission)
-------------------------------------------------------------------------
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
-------------------------------------------------------------------------
At Admission the Company (to be renamed Progility plc) will
be the holding company of a group comprising four divisions:
Consulting, Training, Recruitment and Technology Solutions,
providing a range of value added services to its customers
at different stages of the project management life cycle.
Currently ILX Group's business comprises three divisions: Training,
Consulting and Recruitment. The Training division provides
a blend of on-line learning, games and simulations, traditional
classroom training, practical workshops and coaching and delivers
training in the UK Cabinet Office's best management practice
products, primarily in PRINCE2, MSP and ITIL. The Consulting
division provides a wide range of capabilities to the fixed
and mobile telecommunications, retail, printing and management
information, television, cable, broadband internet, financial
services, travel and transport, utilities and outsourcing sectors
in the UK and organisational improvement and project management
services in information technology, service and supply chain
improvement in Australia. The Recruitment division provides
executive search, managed services and the placement of permanent,
interim and contract personnel into the public and private
sectors in the knowledge, information and data management industries.
The Company currently has 77 employees (excluding the Directors)
and offices in the UK, Middle East and Australia.
The scope and scale of the Group's activities will increase
through the acquisition of Progility Pty Ltd, which operates
a communication systems integration business which designs,
implements and maintains solutions for medium and large enterprises
with a focus on the rail, port, oil and gas, power and water
and healthcare industries in Australia and on the mining industry
globally. Headquartered in Melbourne, Australia with offices
in Castlemaine, Perth, Sydney, Latrobe Valley, Mackay and Brisbane,
Progility Pty Ltd employs approximately 116 full time staff
across Australia and has three operating divisions. Its Unified
Communications division focuses on communications systems integration,
designs voice and IP communications solutions for specific
customers' operating environments and is a major provider of
enterprise based Siemens unified communication systems in Australia.
CA Bearcom is Australia's largest distributor of two-way radio
communications products primarily supplied by Motorola Australasia.
The Minerals & Energy division designs, implements and manages
an array of integrated communications solutions for specific
mining, oil and gas, rail and port applications.
The number of employees employed by the Enlarged Group at the
date of Admission is expected to be 220 and of whom 68 will
be employed in the UK, 151 in Australia and 1 in UAE.
Admission is sought as the result of a reverse takeover under
Rule 14 of the AIM Rules for Companies.
-------------------------------------------------------------------------
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
-------------------------------------------------------------------------
199,666,880 Ordinary shares of 10 pence each
-------------------------------------------------------------------------
CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
-------------------------------------------------------------------------
No new capital is being raised at Admission, but 159,733,504
New Ordinary Shares of 10 pence each are being issued to satisfy
the acquisition consideration.
The anticipated market capitalisation of the Company, based
on the issue price of the New Ordinary Shares, is approximately
GBP19.7 million.
-------------------------------------------------------------------------
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
-------------------------------------------------------------------------
86.04%
-------------------------------------------------------------------------
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES
(INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
-------------------------------------------------------------------------
No other exchanges or platforms
-------------------------------------------------------------------------
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
-------------------------------------------------------------------------
Wayne Malcolm Bos - Chairman and Interim Chief Executive
John Joseph McIntosh - Finance Director
Donald John Stewart - General Counsel
Paul Ronald Scott Lever - Non-Executive Director
-------------------------------------------------------------------------
FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
-------------------------------------------------------------------------
Significant shareholder Before Admission After Admission
% of Issued Share % of Issued Share
Capital Capital
Praxis Trustees * 29.90 64.75
Mmilt Pty Limited 0.00 17.96
Cameron Investment
Trust 0.00 3.26
Octopus Capital for
Enterprise Fund 14.23 2.85
Webb Capital Asset
Management Limited 8.73 1.75
Barnard Nominees Limited 5.45 1.09
* - As trustees of the DNY Trust, a family trust of which Wayne
Bos is a discretionary beneficiary, Praxis Trustees holds 29.90%
of the issued share capital of the Company prior to Admission
and will hold 64.75% of the issued share capital of the Company
post Admission.
-------------------------------------------------------------------------
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
-------------------------------------------------------------------------
None
-------------------------------------------------------------------------
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
-------------------------------------------------------------------------
(i) 30 June
(ii) 30 June 2013
(iii) 31 March 2014, 31 December 2014, 31 March 2015
-------------------------------------------------------------------------
EXPECTED ADMISSION DATE:
-------------------------------------------------------------------------
7 October 2013
-------------------------------------------------------------------------
NAME AND ADDRESS OF NOMINATED ADVISER:
-------------------------------------------------------------------------
SPARK Advisory Partners Limited
33 Glasshouse Street, London, W1B 5DG
-------------------------------------------------------------------------
NAME AND ADDRESS OF BROKER:
-------------------------------------------------------------------------
W H Ireland Limited
24 Martin Lane, London, EC4R 0DR
-------------------------------------------------------------------------
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
-------------------------------------------------------------------------
Copies of the Admission Document are available from the Company's
Registered Office and from the offices of SPARK Advisory Partners
Limited, 33 Glasshouse Street, London, W1B 5DG. They are also
available from the Company's website at www.ilxgroup.com.
The Admission Document contains full details about the Company
and the admission of its securities.
-------------------------------------------------------------------------
DATE OF NOTIFICATION:
-------------------------------------------------------------------------
20 September 2013
-------------------------------------------------------------------------
NEW/ UPDATE:
-------------------------------------------------------------------------
New
-------------------------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
PAAEAKNEAELDEFF
ILX (LSE:ILX)
Historical Stock Chart
From May 2024 to Jun 2024
ILX (LSE:ILX)
Historical Stock Chart
From Jun 2023 to Jun 2024
