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xG Technology Inc. XGT Issue of Equity

  xG Technology Inc. (XGT) - Issue of Equity

RNS Number : 9468Q
xG Technology Inc.
13 November 2012




                                                             November 13, 2012

                                                                             

                             xG Technology, Inc.

                   ("xG", "xG Technology" or the "Company")

                                      

                     Application for admission of shares

                                      

xG Technology,  the  developer  of  a  portfolio  of  wireless  communications 
technologies, including cognitive radio  networks,announces that, pursuant  to 
an employment agreement under which part of the remuneration is payable in new
shares of $0.01 each in the common stock of the Company ("Shares") and further
to the announcements  made on  August 13, 2012,  April 24,  2012, January  16, 
2012, October  21, 2011  and September  23, 2011,  the Company  has issued  an 
additional 30,900 new Shares (the "New Shares").



Application is being made for admission of  the New Shares to trading on  AIM. 
It is expected that admission  of the New Shares  will become effective on  or 
about November 16, 2012. The New Shares will trade under the XGT symbol.





Note: Following the issue of the New Shares referred to above, the  Company's 
issued share capital will comprise 211,468,130 Shares, each Share having equal
voting rights. The  Company holds  80,000 Shares in  treasury. Therefore,  the 
total number of Shares with voting rights will be 211,388,130. This figure may
be used by shareholders in the Company 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.





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Contacts



xG Technology, Inc.                                    www.xgtechnology.com
John Coleman, Chief Executive Officer                  +1 212 651 4219
Roger Branton, Chief Financial Officer                 +1 212 651 4219
James Woodyatt, Investor Relations                     +1 954 572 0395
Allenby Capital Limited (Nominated Adviser and Broker) www.allenbycapital.com
Nick Naylor                                            +44 20 3328 5656
Mark Connelly                                          +44 20 3328 5656
First Columbus LLP (Joint Broker)                      www.first-columbus.com
Chris Crawford                                         +44 20 3002 2073
North of Nine (Media and Analyst Relations)            www.nof9.com
Josh Lefkowitz                                         +1 212 614 5012





ABOUT XG TECHNOLOGY

xG  Technology  is   a  leading   developer  of   innovative  and   disruptive 
communications technologies for wireless  networks. Its patented  intellectual 
property portfolio covers a broad  range of applications, including  cognitive 
radio networks. The Company is  commercializing some of these technologies  to 
create xMax, the World's first carrier-class cognitive radio network.



xMax's  standards-based   IP   architecture  minimizes   network   deployment, 
management and operational costs while  simplifying the delivery of fixed  and 
mobile services. Using field-proven  cognitive radio technology, xMax  enables 
the delivery of these mobile services  in both licensed and unlicensed  bands. 
In its initial commercial  offering, the xMax  cognitive radio system  enables 
carriers and other operators to monetize  the free unlicensed spectrum in  the 
900MHz ISM band.



xMax also  offers unique  capabilities to  enterprises, utilities,  government 
agencies and others  who require advanced  wireless communications to  support 
business operations and mission critical applications.



xG offers  turnkey  xMax network  solutions  including base  stations,  mobile 
switching centers,  network  management systems,  deployment  tools,  end-user 
equipment and customer support.



xG has deployed a 32 square mile  xMax network in Fort Lauderdale, Florida  to 
showcase its cognitive radio, mobile VoIP and dynamic interference  mitigation 
capabilities. The Company's  xMax products have  been successfully tested  and 
trialed by the US Army at two of its  US bases. Based in the USA, xG has  over 
60 US and more than 130 international patents and pending patent applications.
For more information, please visit www.xgtechnology.com.



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

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IOEFFSEEEFESEIF -0- Nov/13/2012 07:01 GMT