Vyke Communications

Directorate Change

RNS Number : 5644T
Vyke Communications PLC
30 September 2010
 



30 September 2010

 

Vyke Communications plc

("Vyke" or the "Company")

 

Board changes

 

Vyke Communications plc (AIM: VYKE), the leading mobile Voice over Internet Protocol provider, is pleased to announce a number of board changes.

 

The changes are in line with the management's recent strategy regarding board appointments to add considerable commercial experience in the telecommunications industry and to help focus on implementing tight operational controls within the business. Joining the Board as non-executive Directors with immediate effect are Robert Passantino, Leonard Carone and Summeet Bhat. The Company also announces that following the new appointments, Terje Ask Henriksenand Peter Holmgren will be stepping down from their positions as non-executive Directors with immediate effect.

 

Robert Passantino has an extensive background in International Finance with over 30 years of management experience. He also has many years of experience in dealing with international telecommunications companies worldwide, most notably as a director of International Finance with Verizon Business. Here, Mr Passantino's achievements included establishing operating companies in Europe, South America and Asia Pacific and reducing domestic bad debts to less than 1% of annual billing of $750M. Prior to this, Mr Passantino worked for RCA Global Communications in various financial roles before joining WorldCom as Director of Financial Planning, Reporting, Accounting and Treasury.

 

Leonard Carone graduated in Ecomomics and Accounting from Queens College, New York in 1990. A member of the American Institute of Certified Public Accountants, Mr Carone has held various financial positions within the telecommunications sector including Chief Financial Officer at CVT Prepaid Solutions, Inc. and Vice President of Finance at STI Prepaid, LLC. Since 2009, Mr Carone has been Chief Financial Officer at BLS Tel Holdings, LLC where he oversees the financial operations of eight subsidiaries.

 

Summeet Bhatt has worked in the telecommunications industry since 2002 working for several companies in the sector. Since 2009, he has been the managing executive director of marketing & sales for BLS TEL, LLC, a global provider of telecommunication products and services, focusing on the emerging US and international markets. In this role, Mr Bhatt leads and manages all marketing and sales activity within the company, ensuring effective promotion of the company's brand in the marketplace. Mr Bhatt graduated in Commerce at Kolkata University and Business Administration at Adelphi University, New York.

 

Tommy Jensen, Executive Chairman of Vyke Communications, commented, "I am delighted to welcome Robert Passantino, Leonard Carone and Summeet Bhatt to the Board, all of whom have a wealth of knowledge and expertise in the telecommunications sector. We are now confident that we have the right team in place to deliver on our strategy of reducing operating costs and capitalising on the distribution channels and strategic alliances that we have put in place to open up the Vyke product line to new customers worldwide.

 

The Board would also like to take this opportunity to thank Terje Ask Henriksen and Peter Holmgren for their contribution to Vyke during their time on the Board and wish them well for their future activities."

 

----ends----

 

 

- For further information please contact: Vyke Communications plc

 

Vyke Communications

Tommy Jensen, Executive Chairman

+44 20 7732 3666



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 / Josh Royston

 

 

 About VYKE

 

Vyke Communications plc is a leading mobile Voice over Internet Protocol ("VoIP") provider and is headquartered in the UK with subsidiaries and offices in Norway, USA, Iceland and Malaysia. 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

 

Regulatory information

 

Full name: Robert John Passantino

 

Age: 61

 

Current Directorships

Former Directorships



Nil

Nil

 

There are no further disclosures to be made in relation to Mr Passantino under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

Full name: Leonard Carone

 

Age: 43

 

Current Directorships

Former Directorships



BLS Tel Holdings, LLC

CVT Prepaid Solutions, Inc.

STI Prepaid

 

There are no further disclosures to be made in relation to Mr Carone under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

 

Full name: Summeet Bhat

 

Age: 30

 

Current Directorships

Former Directorships



Nil

Nil

 

There are no further disclosures to be made in relation to Mr Bhat under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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