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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 |
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
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