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14
March
2008
xG Technology, Inc.
Exercise of Options
Application has been made for 15,000 common
shares of US$0.01 each in xG Technology Inc. (the "Company")
to be admitted to trading on the Alternative Investment Market
("AIM") market of the London Stock Exchange pursuant to the
exercise of options of 15,000 common shares at a price of
US$0.55 per share. These shares will rank pari passu with the
Company's existing shares and dealings are expected to
commence on AIM on 19 March 2008.
Following the Admission of these shares,
the Company's total issued share capital will be 129,325,818
common shares.
- Ends -
Enquiries:
Rick Mooers, Chairman and CEO
Roger Branton, COO and CFO
+44 20-7367-8888
www.xgtechnology.com
Steve Liebmann, Simon Bloomfield or Chris Price
Bankside
+44 20-7367-8888
Herry Cho
William Marle
ING Bank N.V., London Branch (Nominated Adviser)
+44 20-7767-1000
ABOUT
XG TECHNOLOGY (AIM:XGT)
XG TECHNOLOGY'S BUSINESS
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.
XGT 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
extended range of operation and an expected 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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