TIDMVYKE 
 
RNS Number : 2613X 
Vyke Communications PLC 
02 December 2010 
 

                                                                 2 December 2010 
 
                            Vyke Communications plc 
                            ("Vyke" or the "Company") 
 
                  Discussions on working capital facility and 
                            discussions with lenders 
 
 
Vyke Communications plc (AIM: VYKE), the mobile Voice over Internet Protocol 
provider, announces that on 18 November 2010 the Company entered into a three 
month working capital facility with BLS Telecom LLC ("BLS").  Vyke announces 
that it is discussion with BLS to extend the repayment date of the US$500,000 
discretionary working capital facility by an additional 12 months and the 
management of Vyke ("Board") is confident that this will be agreed by BLS as 
part of the discussions set out below. 
 
The Board and its advisers are also in 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. 
By way of background, on 28 June 2007, Vyke entered into a GBP2.0 million 
convertible bond.  A payment of GBP1.0 million (plus accrued interest) is due to 
be paid in relation to this on 31 December 2010.  On 29 November 2009, Vyke 
entered into an unsecured convertible loan agreement for GBP500,000.  A payment 
of GBP1.0 million falls due to be paid to settle this unsecured loan on 4 
January 2011.  The Board and its advisers are in discussions with the bondholder 
and the lender with a view to reaching a solution to defer payment of the 
amounts due. In the event that Vyke is unable to reach agreement with the 
bondholder and the lender then the Board will need to seek alternative sources 
of funds of which there can be no guarantee or take steps to protect the 
interests of creditors. The Board is cautiously optimistic that a solution  will 
 be found with the bondholder and lender but there is no guarantee of a 
successful outcome. 
 
The Company has taken steps to increase revenues as evidenced by the 
announcements released on 25 November regarding the launch of the Vyke.com UK 
website and the iPhone app and today regarding the launch of My Nigeria Mobile. 
Actions that the Board have taken have already resulted in a significant 
reduction in costs.  Further announcements in relation to the discussions above 
will be made in due course. 
 
                                  ----ends---- 
 
 
        - For further information please contact: Vyke Communications plc 
 
+----------------------------+-------------------------------+ 
| Vyke Communications        |                               | 
| Mohammad Asif, Chief       |              +44 20 3137 1560 | 
| Executive                  |                               | 
|                            |                               | 
+----------------------------+-------------------------------+ 
|                            |                               | 
+----------------------------+-------------------------------+ 
| Allenby Capital Limited    |              +44 20 3328 5656 | 
+----------------------------+-------------------------------+ 
| Nominated Adviser          |                               | 
| Brian Stockbridge / Alex   |                               | 
| Price                      |                               | 
+----------------------------+-------------------------------+ 
|                            |                               | 
+----------------------------+-------------------------------+ 
|                            |                               | 
+----------------------------+-------------------------------+ 
| Threadneedle               |             +44 20 7653 9850  | 
| Communications             |                               | 
+----------------------------+-------------------------------+ 
| 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 
   END 
 
 MSCUGGQWPUPUGGP
Vyke Communications (LSE:VYKE)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Vyke Communications Charts.
Vyke Communications (LSE:VYKE)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Vyke Communications Charts.