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.
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
IOEFFSEEEFESEIF -0- Nov/13/2012 07:01 GMT
Press spacebar to pause and continue. Press esc to stop.