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. END 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 END IOEFFSEEEFESEIF -0- Nov/13/2012 07:01 GMT
xG Technology Inc. XGT Issue of Equity
Press spacebar to pause and continue. Press esc to stop.