ILX held an EGM to approve the reverse takeover of the new CEO’s Australian interests. This will give his Concert Party 86% of the equity and dilutes existing independent ILX holders down to 14% of the equity.
Background.
ILX is a training company, quoted on AIM for years. They train via presentations, apps and online, mainly in project management. After some disastrous acquisitions, training stopping dead in the City, a bit of debt and excessive Director Pay ( paid £4.7m over ten years, ...