January 16, 2012
xG Technology, Inc.
("xG", "xG Technology" or the "Company")
Application for admission of shares
xG Technology, Inc., 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 shares of $0.01 each in the common stock of the Company ("Shares") and, in addition to the announcements of September 23, 2011 and October 21, 2011, the Company has issued a further 27,500 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 January 20, 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 210,603,454 Shares, each Share having equal voting rights. The Company holds 40,000 Shares in treasury. Therefore, the total number of Shares with voting rights will be 210,563,454. 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
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 |
Nick Naylor | +44 20 3328 5656 |
Mark Connelly | +44 20 3328 5656 |
Chris Crawford | +44 20 3002 2073 |
Fusion PR (Media and Analyst Relations) | |
Heather Lukens | +1 212 651 4227 |
ABOUT XG TECHNOLOGY
xG Technology is a developer of innovative and disruptive communications technologies for wireless networks. Its patented intellectual property portfolio covers a range of applications including cognitive radio networks. The Company has commercialized 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 profitable 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 profitably 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 centres, 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 trialled 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 .
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