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Press
Releases
Media
Coverage
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26
January 2009
DIRECTOR INCREASES EQUITY POSITION
xG Technology, Inc. ("xG" or the "Company")
was notified on 23 January 2009 that Mats Wennberg, a
Non-Executive Director of the Company, purchased in the market
5,000 Common Shares in the Company on 23 January at a price of
0.85 US Dollars per share. Following this transaction, Mats
Wennberg's total beneficial holding in xG, privately and
through his wholly owned company, is 2,600,000 Common Shares,
representing approximately 1.97% of the total issued share
capital of the Company.
Contacts
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xG Technology, Inc.
Richard Mooers, Chairman and Chief Executive Officer
Roger Branton, Chief Operating Officer and Chief Financial
Officer
Jonas Krepp, Director of Investor Relations |
www.xgtechnology.com
+44 20-7429-6666
+44 20-7429-6666
+44 78-2744-4634 |
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Conduit PR
Ben Way |
+44 20-7429-6666 |
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Religăre, Hichens Harrison PLC
Daniel Briggs |
+44 20-7588-5171 |
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Daniel Stewart & Company PLC
Simon Starr |
+44 20-7776-6550 |
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ING Bank N.V., London Branch
(Nominated Adviser)
Xavier Moreels or Ali Awan |
+44 20-7767-1000 |
ABOUT XG TECHNOLOGY
Based in Florida, USA, xG Technology, Inc.
has developed innovative, patented wireless communications
technologies which offer the potential to significantly reduce
the required capital investment and operating costs of
wireless voice and data communications services. Its mobile
VoIP (Voice over Internet Protocol) base station and handset
product line - branded as xMax - is intended for use by
regional carriers (internet service providers, competitive
local exchange carriers and entrepreneurial parties) which
seek to deliver mobile Internet Protocol voice and data
services directly to consumers without using the incumbent
circuit switched or coaxial cable networks. The xMax system
provides an extended range of operation and is expected to
provide superior handset battery performance and double the
call capacity of mobile WiMAX networks. Planned future
releases of the xMax product line include integrated video and
data applications.
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