Planet Payment [UK: LSE:AIM: PPT and PPTR; USA: OTCQX: PLPM], a leading international multi-currency payment and data processor, announces the following changes in its issued share capital.
The Company has applied to AIM for 1,281,600 new Common Shares in aggregate to be admitted to trading.
205,317 PPTR shares are to be issued to Inter-Atlantic Fund as a result of the payment of annual interest on the Promissory Note issued in 2005. These new shares are to be admitted to the Reg. S line trading under PPTR and are issued at a price of £0.99 per share (approximately $1.65). Following admission of these shares, Inter-Atlantic Fund will hold a total of 1,486,977 shares representing 3.3% of the voting rights of the Company, an increase from its previous holding of less than 3%.
1,076,283 shares are to be issued to the holders of Convertible Promissory Notes (“Notes”) issued in 2008 and the beginning of 2009, who converted their debt of $450,000 plus interest to equity in accordance with the terms of the Notes, as at 31 December 2009. These new shares are to be admitted to the unrestricted line trading under PPT/PLPM and the conversion price under the Notes was £0.45 per share (approximately $0.72). Details of these Notes were provided in the 2008 Annual Report and in each subsequent Quarterly Report for 2009.
Following the admission of all of the above shares the Company will have a total of 38,930,026 issued and outstanding Common Shares of which 26,318,170 Shares will be trading on AIM under the ticker PPT, the unrestricted line and 12,611,856 Shares will be trading on AIM under the ticker PPTR, the Reg S line. All unrestricted shares are tradable on the OTCQX in the United States under the ticker PLPM.
Dealings in the above shares are expected to commence on 8 January 2010.
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Enquiries to:
Planet Payment, Inc.
Graham N. Arad, SVP & General Counsel Tel: + 1 516 670 3200
www.planetpayment.com
Redleaf Communications Ltd (UK PR for Planet Payment)
Emma Kane / Rebecca Sanders-Hewett / Henry Columbine planet@redleafpr.com
Tel: +44 20 7566 6700
CJP Communications (US PR for Planet Payment)
Emily Cleary/ Thomas Rozycki Tel: +1 212 279 3115 x257
ecleary@cjpcom.com
Canaccord Adams Limited (UK) (Nomad for Planet Payment)
Mark Williams and Andrew Chubb
Tel +44 20 7050 6500
Canaccord Adams, Inc. (US) (DAD for Planet Payment)
Andy Viles Tel: +1 617 371 3900
About Planet Payment®
Planet Payment’s Common shares trade in the UK on AIM under the symbols PPT for unrestricted Common shares and PPTR for Reg S Common shares and in the United States on the OTCQX under the symbol PLPM.
Planet Payment enables processors, acquiring banks and their merchants to accept, process and reconcile credit card transactions in multiple currencies, allowing cardholders to view prices and settle transactions in their native currency. The Pay in Your Currency service is a component of Planet Payment’s suite of multi-currency processing solutions, which include a multi-currency pricing e-commerce service and a Dynamic Currency Conversion service. Planet Payment’s BuyVoice™, a mobile payment and commerce solution, allows merchants to accept payments and sell product to customers using any mobile or landline phone. With the iPAY™ gateway, Planet Payment also offers comprehensive Internet processing solutions for credit card and electronic check payments.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, Delaware, London, Hong Kong, Shanghai and Singapore.