10 million Equity Line of Credit
07 Outubro 2009 - 3:00AM
UK Regulatory
TIDMVYKE
RNS Number : 3569A
Vyke Communications PLC
07 October 2009
Vyke Communications plc
("Vyke")
Vyke secures GBP10 million equity line of credit
Vyke announces that it has conditionally secured access to a GBP10 million line
of funding.
Under an agreement signed yesterday, GEM Global Yield Fund Limited ("GEM
Global"), the UK based private investment group, has agreed, subject to
execution of a subscription agreement between the parties, to provide the
Company with up to GBP10 million over the next three years in the form of an
equity line of credit. Vyke is not obliged to draw on the funds on offer.
On drawdown, Vyke will issue ordinary shares to GEM Global at a price per share
which represents a 10% discount to the average closing price of Vyke ordinary
shares over a 15 trading day period prior to drawdown.
Global Emerging Markets Limited ("GEM"), www.gemny.com was founded in 1991. The
firm is a US$2.7 billion alternative investment group that manages a diverse set
of investments vehicles across the world.
Tommy Jensen, Executive Chairman of Vyke, said, "We are delighted to have this
agreement with GEM which shows their commitment to the future of the Company".
ENDS
For further information, please contact:
+----------------------------------------------+--------------------------------+
| Vyke Communications plc | +44 (0) 20 7732 3666 |
| Tommy Jensen, Executive Chairman | |
| Kim Berknov, Chief Executive Officer | |
| | |
+----------------------------------------------+--------------------------------+
| Daniel Stewart & Co | +44 (0) 20 7776 6550 |
| Graham Webster/Martin Lampshire | |
| | |
+----------------------------------------------+--------------------------------+
| Threadneedle Communications | +44 (0) 20 7653 9850 |
| Graham Herring/Josh Royston | |
+----------------------------------------------+--------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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