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xG Technology Inc. (XGT)

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Wednesday 23 March, 2011

xG Technology Inc.

Share buyback programme

RNS Number : 4245D
xG Technology Inc.
23 March 2011
 



March 23, 2011

 

 

Share Buy-back Program

 

xG Technology, Inc. (LSE-AIM: XGT, "xG" or the "Company"), the developer of a broad portfolio of wireless communications technologies, including cognitive radio networks, is pleased to announce that the Board has resolved to establish a share buy-back program. Accordingly, the Board has delegated the administration of the program to the Chief Financial Officer. The Chief Financial Officer will have the discretion, subject to any legal or regulatory requirements, to buy back over the next twelve months up to $1,000,000 in value (inclusive of commissions and other costs) of shares of $0.01 each in the Common Stock of the Company ("Shares") and up to such number of Shares as represents 10% of the Company's issued and outstanding share capital for the time being.

 

 

 

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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 & Broker)


Brian Stockbridge

+44 (0) 20 3328 5656

Alex Price

+44 (0) 20 3328 5656

 

Fusion PR (Media and Analyst Relations)

Heather Lukens

+1 212 651 4227

 

 

 

ABOUT XG TECHNOLOGY

xG Technology is a leading developer of innovative and disruptive communications technologies for wireless networks. Its extensive patented intellectual property portfolio covers a broad 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 revenue-generating mobile services in both licensed and unlicensed bands.  In its initial commercial offering, the xMax cognitive radio system enables carriers and other operators to profitably monetize 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 Technology offers turnkey xMax network solutions including base stations, mobile switching centers, network management systems, deployment tools, handsets 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 are also being tested and trialed by the US Army at two of its US bases. Based in the USA, xG Technology has over 50 US and more than 100 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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