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Vyke Communications (VYKE)

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Thursday 13 May, 2010

Vyke Communications

Confirmation of placing

RNS Number : 8984L
Vyke Communications PLC
13 May 2010
 



13 May 2010

 

Vyke Communications plc

("Vyke" or the "Company")

 

Confirmation of placing

 

The Board of Vyke Communications plc (AIM: VYKE) are pleased to announce that the placing agreement between the Company (1) Allenby Capital Limited (2) and Daniel Stewart & Company plc (3) (the "Placing Agreement") has become unconditional in all respects.

 

Further details of the Placing Agreement are contained in the letter to shareholders dated 22 April 2010.

 

Pursuant to the terms of the Placing Agreement, the Company will issue 121,885,281 new ordinary shares of 1 penny each in the capital of the Company (the "Placing Shares"). Application has been made for the Placing Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00am on 14 May 2010 ("Admission").

 

The total enlarged issued share capital of Vyke following Admission will be 185,068,577 ordinary shares of 1 penny each in the capital of the Company. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

 

Directors' interests

 

The table below sets out details of the Directors' interests following Admission:

 

Name

Number of shares held (including those held by "related parties" as defined in the AIM Rules)

Percentage of enlarged issued share capital

Tommy Jensen

1,549,913

 

0.84

Terje Ask-Henriksen

50,000

0.03

Jørgen Rasmussen

283,000

0.15

Peter Holmgren

75,000

0.04

Total

1,957,913

 

1.06

 

It should be noted that certain of Tommy Jensen's shares are held by One Two Invest AS and that Terje Ask-Henriksen's shares are held by Consendo AS.

 

Substantial shareholders

 

Save for those listed in the announcement made by the Company on 22 April 2010, the Company has not received any notifications from substantial shareholders since 29 March 2010.

 

----ends----

 

 

- For further information please contact: Vyke Communications plc

 

Vyke Communications

Tommy Jensen, CEO

+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

 


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