Planet Payment Inc. Removal of Restrictions on REG S Shares, Transfer to PPT Line and Cancellation of PPTR Line
LONG BEACH, N.Y., June 7, 2013 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM) (LSE:AIM:PPT), a leading provider of international payment processing and multi-currency processing services, announces the following changes in the trading of its shares on AIM.
The Company announces that, following the termination of restrictions on the Reg S common shares under U.S. securities law, the Company will file an application with London Stock Exchange plc AIM Market ("AIM") for all remaining 2,091,127 Reg S Common Shares to be transferred from the Reg S line, trading under PPTR, to the unrestricted line, trading under PPT. It is expected that this transfer will take effect on June 17, 2013. These shares are therefore freely tradable on both the AIM market under the ticker PPT, as well as on the NASDAQ stock market under the ticker PLPM. No new shares are being issued as part of this process and all Common Shares have always carried exactly the same rights and privileges.
Since the Company's Common Shares are now registered under the United States Securities Exchange Act of 1934 and admitted to trading on the NASDAQ market, there is no longer any requirement to maintain a separate PPTR line of stock on the AIM market. As a consequence, it is expected that this line will be cancelled with effect from June 17, 2013. Planet Payment's Common Shares will continue to trade on AIM and to be available to be held in uncertificated form in the UK in the form of depositary interests (DIs) within CREST (the UK's securities settlement system). The PPTR register will be closed effective June 17, 2013.
Following the transfer and admission of all of the above shares to the PPT line, the Company continues to have a total of 54,360,674 issued and outstanding Common Shares all of which Shares may be traded on AIM under the ticker PPT, the unrestricted line, as well as on the NASDAQ market under the ticker PLPM. All Common Shares carry identical rights and privileges.
About Planet Payment
Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in more than 20 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 50 acquiring bank and processor customers. Our point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact and reconcile payment transactions in multiple currencies, geographies and channels.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, Dubai, Dublin, London, Hong Kong, Mexico City, Shanghai and Singapore. Visit ww.planetpayment.com for more information about the Company and its services. For up-to-date information follow Planet Payment on Twitter at @PlanetPayment or join Planet Payment's Facebook page.
CONTACT: Enquiries: Planet Payment, Inc. Graham N. Arad, SVP General Counsel Tel: + 1 516 670 3200 www.planetpayment.com Redleaf Polhill (UK PR for Planet Payment) Emma Kane / Rebecca Sanders-Hewett / David Ison Tel: +44 207 382 4730 email@example.com ICR (USA IR for Planet Payment) Don Duffy / Dara Dierks Tel: +1 646-277-1212 Canaccord Genuity Ltd (UK) (Nomad for Planet Payment) Simon Bridges / Andrew Chubb Tel: +44 20 7523 8000