Update on discussions with lenders (0912Z)
January 07 2011 - 5:30AM
UK Regulatory
TIDMVYKE
RNS Number : 0912Z
Vyke Communications PLC
07 January 2011
7 January 2011
Vyke Communications plc
("Vyke" or the "Company")
Update on discussions with lenders
Vyke Communications plc (AIM: VYKE), the mobile Voice over
Internet Protocol provider, announces that, following the
announcement made on 2 December 2010, it has continued discussions
with its unsecured bondholder and its unsecured lender in relation
to repayments of GBP1.0 million due on 31 December 2010 (plus
accrued interest) and GBP1.0 million due on 4 January 2011 (the
"Payments"). Further details are contained in the announcement made
on 2 December 2010.
The board of Vyke (the "Board") is pleased to announce that the
bondholder and the lender have each agreed to an extension of the
deadlines of the Payments to 28 February 2011 in order to conclude
discussions which the Board believes should facilitate a long-term
solution and ensure Vyke should have have a sustainable business
model moving forward.
In addition, the Board is also pleased to announce that BLS
Telecom LLC has agreed that the repayment of any money owed to it
under the US$500 000 discretionary working capital facility will be
deferred to 28 February 2011.
Further announcements in relation to the discussions above will
be made at the appropriate time.
----ends----
- For further information please contact: Vyke Communications
plc
Vyke Communications
Mohammad Asif, Chief Executive +44 20 3137 1560
Allenby Capital Limited +44 20 3328 5656
Nominated Adviser
Brian Stockbridge / Alex
Price
Threadneedle Communications +44 20 7653 9850
Graham Herring / Terry Garrett
About VYKE
Vyke Communications plc is a mobile Voice over Internet Protocol
("VoIP") provider and is headquartered in the UK.. The strategic
goal of Vyke is to combine its expertise in VoIP-based
communication systems, mobile data service creation/handset
technology and wholesale carrier network management to provide a
converged communication solution. Vyke's current set of
mobile-oriented products offers up to a 98% discount compared to
current typical mobile operator pricing structures.
About VYKE MOBILE IP
Vyke Mobile IP is the leading mobile-oriented Voice over IP
(VoIP) service offering users up to 98% discount compared to
typical mobile operator pricing structures. One of the first mass
market mobile VoIP services, launched in April of 2006, Vyke Mobile
IP features mobile oriented sign-up steps, automatic configuration
services and pricing.
About the VYKE product suite
The Vyke suite of communication products features advanced
services providing users with low cost, mobile operator/fixed line
provider independent ways of making voice calls and sending text
messaging from the mobile phone, PC and internet.
Please visit www.vyke.com
This information is provided by RNS
The company news service from the London Stock Exchange
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