TIDMVYKE

RNS Number : 9780Y

Vyke Communications PLC

05 January 2011

5 January 2011

Vyke Communications plc

("Vyke" or the "Company")

Resignation of Non-Executive Director and update on discussions on working capital facility and discussions with lenders

Vyke Communications plc (AIM: VYKE), the mobile Voice over Internet Protocol provider, announces that Leonard Carone, Non-Executive Director has stepped down from the Board of Vyke with immediate effect.

As previously announced on 2 December 2010, the board of Vyke is continuing to negotiate with its unsecured bondholder and its unsecured lender in relation to repayments due as well as with BLS Telecom LLC in relation to the extension of its working capital facility. Further announcements will be made shortly.

Mohammad Asif, Chief Executive of Vyke Communications, commented, "The Board would like to thank Leonard Carone for his efforts over the past few months. The Board remains confident that we have a strong team in place to deliver on our strategy of reducing operating costs and capitalising on the distribution channels and current strategic alliances to open up the Vyke product line to new customers worldwide."

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- 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 
 
 Daniel Stewart                     +44 20 7776 6550 
 Paul Shackleton / Martin 
  Lampshire 
 
 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 a 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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