RNS Number:1062E Vyke Communications PLC 19 September 2007
Vyke Communications plc ("Vyke" or "the Company")
Statement Re Press Comment
Further to comments made in today's press the Company can confirm that it is has signed a letter of intent to acquire 100% of the share capital ('the Acquisition') of a USA based VoIP network service provider ('the Target'). The Acquisition is subject to due diligence which is ongoing and final approval by the Board of Vyke. The Acquisition would constitute a substantial transaction under the AIM Rules for Companies.
The Target is a VoIP service provider headquartered in the US with additional offices in China. Its VoIP network, comprised of over 50 international points of presence, delivers approximately 25 million minutes per month of VoIP call traffic and has a total estimated capacity of approximately 60 million minutes per month.
The Acquisition, if completed, would provide Vyke with a vertically consolidated VoIP network presence in key geographical regions such as South East Asia and Africa, allowing Vyke to increase its services and lower associated costs of service supply in these regions. The Target's complementary VoIP network will provide Vyke with approximately 80% more total call handling capacity.
A further announcement with further details of the Acquisition will be made in due course following the completion of due diligence and the conclusion or otherwise of the acquisition.
For further information contact:
Vyke Communications plc
Tommy Jensen, Executive Chairman
+47 67 82 73 60
Malcolm Bacchus, CFO
+44 (0)207 732 3666
HB Corporate
+44 (0)207 510 8600
Luke Cairns / Cecil Jordaan
Threadneedle Communications
+44 (0)207 936 9605
Graham Herring/Josh Royston
About VYKE Vyke Communications plc 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 95% 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 95% 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 suite of IP-based services 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.
