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.

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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 
 
 
 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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