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xG Technology Inc. (XGT)

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Thursday 04 August, 2011

xG Technology Inc.

Update on conversion into unrestricted shares

RNS Number : 7153L
xG Technology Inc.
04 August 2011
 

August 4, 2011

 

Conversion of restricted shares into unrestricted shares

 

xG Technology, Inc. ("xG", "xG Technology" or the "Company"), the developer of a broad portfolio of wireless communications technologies, including cognitive radio networks, is pleased to announce that, further to its announcement on May 9, 2011, a total of 2,102,812 shares held in certificated form have been converted into unrestricted shares and can be traded under the XGTU stock symbol in an unrestricted manner. This brings the total number of unrestricted shares to 37,809,586 and the total number of restricted shares to 156,503,733 (including 40,000 shares held by the Company in treasury). Further information on the Company's shares can be found at http://www.xgtechnology.com/Company/stock-information-and-regulatory-news.html.

 

 

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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)

www.allenbycapital.com

Brian Stockbridge

+44 (0) 20 3328 5656

Dan Robinson

+44 (0) 20 3328 5656



First Columbus LLP (Joint Broker)

www.first-columbus.com

John Nuttall

+44 (0) 20 3002 2071

Chris Crawford

+44 (0) 20 3002 2073



Fusion PR (Media and Analyst Relations)

+1 212 651 4227

Heather Lukens


 

 

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 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 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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