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xG Technology Inc.
01 September 2008
xG TECHNOLOGY, INC. (the "Company")
SIGNIFICANT SHAREHOLDING
The Company announces that it was notified on 28 August
2008 that on the same day, Casper Holdings Limited, acquired
1,454,353 common shares of US$0.01 each in the share capital
of the Company. When aggregated to its existing holding in the
Company, it now owns 5,066,176 common shares representing
approximately 3.8% of the share capital of the Company.
ENDS
CONTACTS
xG Technology, Inc.
Richard Mooers, Chairman and Chief Executive Officer
Roger Branton, Chief Operating Officer and Chief Financial
Officer |
+44 20-7367-8888
www.xgtechnology.com
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Bankside
Steve Liebmann |
+44 20-7367-8888 |
ING Bank N.V., London Branch
(Nominated Adviser)
Xavier Moreels or Francis Moore |
+44 20-7767-1000 |
About xG Technology
Based in Florida, USA, xG Technology has developed innovative,
patented wireless communications technologies which offer the
potential to reduce significantly the capital investment in
and running costs of wireless voice and data communications
services.
xG has designed a mobile VoIP (Voice over Internet
Protocol) base station and handset product line. Branded as
xMax, these products are intended for use by regional carriers
(internet service providers, competitive local exchange
carriers and entrepreneurial parties) seeking 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. Planned future releases of the xMax product line
include
integrated video and data applications.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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