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(XGT.L) xG Technology Inc Buy/Sell
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| Date/Time | Headline | Source |
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| 11-01-10 | RNS |
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RNS Number : 3012F xG Technology Inc. 11 January 2010 11 January, 2010 Issue of Equity: Further update on cash placing xG Technology, Inc. (LSE-AIM: XGT, "xG" or the "Company"), which has developed an innovative, low-cost, mobile VoIP and data communications system, announces that, further to our announcement on 11 December, 2009 that the Company had signed Securities Purchase Agreements to raise a total of $6,621,399 by the placing of 19,474,704 newly issued shares of Common Stock in the Company at $0.34 per share and our announcement on 24 December 2009 that the Securities Purchase Agreement with Treco International Limited ("Treco") had become fully unconditional, the Company has to date received a total of $5,121,399 in cash from Treco and the other parties to the placing, with the balance of $1,500,000, which Treco is committed to pay under its Securities Purchase Agreement, expected from Treco soon. Accordingly, 4,768,822 new xG shares have been issued to date under the placing and these shares were admitted to trading on AIM on 17 December 2009. The balance of 14,705,882 shares will be issued to Treco when payment in full under its Securities Purchase Agreement is received. They will also then be admitted to trading on AIM.
ENDS
CONTACTS
Financial Officer
Cenkos Securities (Nominated Adviser & Broker)
ABOUT XG TECHNOLOGY Based in Florida, United States, xG Technology, Inc. has developed innovative, patented communications technologies which offer the potential to significantly reduce the required capital investment and operating costs of wireless and wired voice and data communications services. xG's mobile VoIP and data system - branded as xMax - operating in the license-free ISM 900MHz band (902-928MHz) is an end-to-end Internet Protocol (IP) system infrastructure which represents the first fully mobile VoIP network. xG's package of hardware and intellectual property delivers high-margin, low-cost, mobile and fixed voice, and broadband data services that can operate in licensed or unlicensed spectrum. xMax networks deployed in license-free spectrum can be significantly less expensive and faster to market than other technologies. xMax modules can also be incorporated into any Customer Premise Equipment (CPE) or device hardware and software. xMax technology offers advantages for numerous types of prospective domestic and international carriers. These organizations include incumbent local exchange carriers (ILECs), competitive local exchange carriers (CLECs), original equipment manufacturers (OEMs), mobile operators, cable companies and other content providers, and infrastructure mobile virtual network enablers (MVNE). This information is provided by RNS The company news service from the London Stock Exchange END
IOESFIFUSFSSEEF More |
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| 24-12-09 | RNS |
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RNS Number : 6881E xG Technology Inc. 24 December 2009 24 December, 2009 Issue of Equity: Further update on cash placing xG Technology, Inc. (LSE-AIM: XGT, "xG" or the "Company"), which has developed an innovative, low-cost, mobile VoIP and data communications system, is pleased to announce that holders of more than seventy-five percent of the voting rights attributable to shares in the Common Stock of the Company have given their consent to the allotment of 14,705,882 new shares to Treco International Limited ("Treco") without the application of shareholders' pre-emption rights. As such, the Securities Purchase Agreement dated December 11, 2009 between xG and Treco has become fully unconditional. Accordingly, application will be made for admission of the new shares to trading on AIM. It is expected that admission of the new shares will become effective on or about December 30, 2009. Upon completion of the issue of 14,705,882 new shares to Treco, Treco will own a total of 20,771,586 shares in the Company (representing in aggregate 13.7% of the 152,063,319 xG shares then in issue and outstanding).
ENDS
CONTACTS
Financial Officer
Cenkos Securities (Nominated Adviser & Broker)
ABOUT XG TECHNOLOGY Based in Florida, United States, xG Technology, Inc. has developed innovative, patented communications technologies which offer the potential to significantly reduce the required capital investment and operating costs of wireless and wired voice and data communications services. xG's mobile VoIP and data system - branded as xMax - operating in the license-free ISM 900MHz band (902-928MHz) is an end-to-end Internet Protocol (IP) system infrastructure which represents the first fully mobile VoIP network. xG's package of hardware and intellectual property delivers high-margin, low-cost, mobile and fixed voice, and broadband data services that can operate in licensed or unlicensed spectrum. xMax networks deployed in license-free spectrum can be significantly less expensive and faster to market than other technologies. xMax modules can also be incorporated into any Customer Premise Equipment (CPE) or device hardware and software. xMax technology offers advantages for numerous types of prospective domestic and international carriers. These organizations include incumbent local exchange carriers (ILECs), competitive local exchange carriers (CLECs), original equipment manufacturers (OEMs), mobile operators, cable companies and other content providers, and infrastructure mobile virtual network enablers (MVNE). This information is provided by RNS The company news service from the London Stock Exchange END
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| 16-12-09 | RNS |
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RNS Number : 2272E xG Technology Inc. 16 December 2009 16 December 2009
APPOINTMENT OF NEW DIRECTOR xG Technology, Inc. (LSE-AIM: XGT, "xG" or the "Company"), which has developed an innovative, low-cost, mobile VoIP and data communications system, is pleased to announce the appointment of Ceinwen Lloyd to the Board as a new Non-Executive Director with immediate effect. Ceinwen Lloyd, aged 34, is the CEO of Treco International, S.A. ("Treco"; www.treco.ch). Treco has long had a close relationship with xG. The recently announced commitment to increase Treco's equity investment in the Company and the appointment of Ceinwen Lloyd to the Board marks a further strengthening of this relationship and a greater collaboration between Treco and xG. As CEO of Treco, Ceinwen has evaluated, negotiated and managed Treco's investment in a wide variety of interests, from mobile communications through real estate to alternative energy, as well as various investments promoting philanthropic goals. Previously, having qualified as a Solicitor in England, Ceinwen specialised in corporate law, including mergers & acquisitions. Rick Mooers, Chairman and CEO of xG Technology, Inc., commented: "We are delighted to welcome Ceinwen to the Board of xG Technology. Her presence on the Board further cements the close relationship between the Company and Treco and her business and legal background will add strong complementary skills to the Board. It is a testament to her commitment that Ceinwen is moving close to the Company in South Florida so that she can better give active support to the Company." Save below, there are no other matters to be disclosed in relation to Rule 17 or Schedule 2 paragraph (g) of the AIM Rules. The current and previous directorships and partnerships over the past five years of Ceinwen Emma Lloyd are as follows:
On her appointment, Ceinwen Lloyd has a beneficial interest in 50,000 shares of US$0.01 each in the common stock of xG ("xG Shares") and options over 50,000 xG Shares exercisable at $10.00 per share (equivalent to 0.04% of the current issued share capital of the Company or, if the options are exercised in full, a total of 0.07% of the then enlarged issued share capital of the Company). In addition, on being appointed as a Director of the Company, Ceinwen Lloyd was granted options over 750,000 xG Shares (together with her existing xG Shares and options, equivalent to 0.6% per cent. of the then enlarged issued share capital of the Company if exercised in full), exercisable at an exercise price of $0.325 per share. Treco is part of the Treco Group, which also includes Treco International Limited, a company that has a 4.4% shareholding in xG.
CONTACTS
Financial Officer
Cenkos Securities (Nominated Adviser & Broker)
ABOUT XG TECHNOLOGY Based in Florida, United States, xG Technology, Inc. has developed innovative, patented communications technologies which offer the potential to significantly reduce the required capital investment and operating costs of wireless and wired voice and data communications services. xG's mobile VoIP and data system - branded as xMax - operating in the license-free ISM 900MHz band (902-928MHz) is an end-to-end Internet Protocol (IP) system infrastructure which represents the first fully mobile VoIP network. xG's package of hardware and intellectual property delivers high-margin, low-cost, mobile and fixed voice, and broadband data services that can operate in licensed or unlicensed spectrum. xMax networks deployed in license-free spectrum can be significantly less expensive and faster to market than other technologies. xMax modules can also be incorporated into any Customer Premise Equipment (CPE) or device hardware and software. xMax technology offers advantages for numerous types of prospective domestic and international carriers. These organizations include incumbent local exchange carriers (ILECs), competitive local exchange carriers (CLECs), original equipment manufacturers (OEMs), mobile operators, cable companies and other content providers, and infrastructure mobile virtual network enablers (MVNE). This information is provided by RNS The company news service from the London Stock Exchange END
BOABXBDDXSBGGCL More |
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| 11-12-09 | RNS |
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RNS Number : 9608D xG Technology Inc. 10 December 2009 11 December, 2009 Issue of Equity: Update on cash placing xG Technology, Inc. (LSE-AIM: XGT, "xG" or the "Company"), which has developed an innovative, low-cost, mobile VoIP and data communications system, is pleased to announce that, further to our announcement on 13 November, 2009, the Company has signed Securities Purchase Agreements to raise a total of $6,621,399 by the placing of 19,474,704 newly issued shares of Common Stock in the Company at $0.34 per share. Of this total, Treco International Limited ("Treco") has agreed to purchase 14,705,882 new shares for an aggregate purchase price of $5,000,000. Given the size of the investment by Treco, the Securities Purchase Agreement with Treco is conditional upon the shareholders of the Company determining that shareholders' pre-emption rights shall not apply to such allotment. Pursuant to the Company's Bylaws, the Company will be seeking the written consent of holders of 75% or more of the voting rights attributable to shares in the Common Stock of the Company that are exercisable at a meeting of shareholders of the Company to the allotment of such shares to Treco . Under the placing, among others, MB Merchant Group, LLC (a company in which Richard Mooers, Chairman and CEO, and Roger Branton, COO and CFO, have family interests) has agreed to purchase 3,676,470 new shares for an aggregate purchase price of $1,250,000. On completion, MB Merchant Group, LLC will own a total of 60,398,372 shares in the Company (representing 44.0% of the Company's then issued share capital). In addition, Mats Wennberg, a Non-Executive Director, has agreed to purchase a total of 294,116 new shares for an aggregate purchase price of $100,000, directly and through his wholly-owned company, Wennberg Industries AB. On completion, Mats Wennberg will have an interest in a total of 2,938,116 shares in the Company (representing in aggregate 2.1% of the Company's then issued share capital). Subject to shareholders consenting to the allotment of new shares to Treco without the application of pre-emption rights and upon completion of the purchase by Treco, Treco will own a total of 20,771,586 shares in the Company (representing in aggregate 13.7% of the Company's then issued share capital). Payment of receivables under the Infrastructure Agreement between xG and Treco will be made in due course. The placing will strengthen the Company's balance sheet and working capital position while providing xG with the financial flexibility to progress further with its strategy, including in accelerating development of new products such as the MX20 USB Dongle and adding extra coverage, capacity and new features to the Company's xMax mobile VoIP Showcase network in Fort Lauderdale in support of the ongoing efforts to secure partners for the roll-out of xMax. Application will be made for admission of the new shares to trading on AIM. It is expected that Admission of the 4,768,822 new shares unconditionally agreed to be purchased will become effective on or about 17 December, 2009. Johan Bohman, Chairman of Treco International SA, commented: "The Company has developed ground-breaking technologies for which I believe there are extremely valuable market opportunities. More than ever, I believe xG presents an exceptional investment. Treco is, therefore, pleased to support the Company in seizing those opportunities by increasing its investment in the Company." Richard Mooers, Chairman and CEO of xG Technology commented: "We welcome the continued strong support from Treco and our other investors. The Company continues to make great strides, as evidenced by its mobile VoIP "showcase" urban/suburban network in Fort Lauderdale using free, unlicensed spectrum. The world's first. With this strengthening of the Company's balance sheet, I look forward with great confidence to the Company's future." Note: Following the issue of 4,768,822 new shares unconditionally agreed to be purchased, the Company's issued and outstanding share capital will comprise 137,357,437 shares of Common Stock with a nominal value of $0.01 each, each share having equal voting rights. Upon completion of the issue of 14,705,882 new shares to Treco, the Company's issued and outstanding share capital will comprise 152,063,319 such shares of Common Stock.
ENDS
CONTACTS
Financial Officer
Cenkos Securities (Nominated Adviser & Broker)
ABOUT XG TECHNOLOGY Based in Florida, United States, xG Technology, Inc. has developed innovative, patented communications technologies which offer the potential to significantly reduce the required capital investment and operating costs of wireless and wired voice and data communications services. xG's mobile VoIP and data system - branded as xMax - operating in the license-free ISM 900MHz band (902-928MHz) is an end-to-end Internet Protocol (IP) system infrastructure which represents the first fully mobile VoIP network. xG's package of hardware and intellectual property delivers high-margin, low-cost, mobile and fixed voice, and broadband data services that can operate in licensed or unlicensed spectrum. xMax networks deployed in license-free spectrum can be significantly less expensive and faster to market than other technologies. xMax modules can also be incorporated into any Customer Premise Equipment (CPE) or device hardware and software. xMax technology offers advantages for numerous types of prospective domestic and international carriers. These organizations include incumbent local exchange carriers (ILECs), competitive local exchange carriers (CLECs), original equipment manufacturers (OEMs), mobile operators, cable companies and other content providers, and infrastructure mobile virtual network enablers (MVNE). This information is provided by RNS The company news service from the London Stock Exchange END
IOEFFEEESSUSESE More |
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| Mon 11:03 | ||||
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Now all supporters seem to have jumped the ship - it can't be more dead than that
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| Sun 17:12 | ||||
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Those are Marc Dannenberg's words, not mine.
http://blog.tmcnet.com/blog/rich-tehrani/4g/xg-technologies-interview-at-itexpo-east-2010.html#comments Plus, he calls the xG board of directors "labotomy patients" (his misspelling, not mine). Plus, he admits to extortion: Bart writes: "you tipped your hand on SHEC back in 2005 when Beck and Fehr were resisting your extortion demands" And Marc Dannenberg responds: "they did not resist in the end". More | View thread (2) | Respond | Login to Vote up | Login to Vote down |
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| Sun 12:34 | ||||
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It is pretty much a given that this defrauding of investors is nearing its end!! They've done amazingly well, over time very cleverly name dropped, strung along, impressed and above pressed all the right buttons (greed) to override rational thought from marks (investors) and then lied blatantly to market and investment institutions!! A really impressive performance, but ultimately, when even your boilerhouse stock pumper jacks you in, you know your time is up!!
With the nearing to an end of this scam, I think its about the right time to start considering the prosecution of M&B for the wilful act of defrauding investors. I think every single documented claim, with regard to clients, progress, developments and performance should be fully investigated in the light if day, for muzzled employees to come forward and testify. I don't think M&B should be allowed to waltz off with investors money, and nor should they escape with their freedom!! They should be brought to justice and imprisoned as scams like these undermine confidence in the AIM market!! More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| Sat 10:43 | ||||
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How long, oh Lord, indeed.
They are out of cash again early to mid summer on recent burn. They can cut capex and payroll and last longer, not to mention the short 1mUSD MB pay themselves. But that means facing reality. More | View thread (3) | Respond | Login to Vote up | Login to Vote down |
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