Planet Payment, Inc. Announces Director Retirement
June 16 2014 - 9:05AM
Planet Payment, Inc. (Nasdaq:PLPM) (LSE:PPT), a leading provider of
international payment and transaction processing and multi-currency
processing services, announces that Lady Barbara Judge has informed
the Company that she will not be standing for re-election as a
Director, at the Annual Meeting to be held today and her term as a
director will come to an end.
Lady Judge indicated that she is retiring from the Board for
personal reasons. However, the Company has retained her
services as a consultant for the next year, in order to assist with
business development activities.
As a result of Lady's Judge's decision not to seek re-election
the resolution to re-appoint her as a director has been withdrawn
from the business of the Annual Meeting to be held later today.
This will not affect the other matters to be discussed and voted on
at the meeting nor the validity of all proxies received.
The Company is immediately commencing a search for another
independent director, in order to comply with NASDAQ market rules,
which require a majority of independent directors. The Company
has six months from today in order to appoint an appropriate person
to the Board. As the Company is not replacing Lady Judge at
this time, the size of the Board is being reduced to 6
directors.
"I have worked with Barbara for more than eight years and
greatly appreciate her service as an independent director to the
Company as well as the valuable insights she shared during that
time", stated Cameron McColl, Director of Planet Payment, Chairman
of Audit and Nomination and Governance Committees. "We want to
thank Barbara for her efforts and support for the Company, during a
time of great development and change and look forward to continuing
to work with her in the coming months."
About Planet Payment
Planet Payment is a leading provider of international payment
and transaction processing and multi-currency processing services.
We provide our services in 23 countries and territories across the
Asia Pacific region, the Americas, the Middle East, Africa and
Europe, primarily through our more than 60 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
www.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
Canaccord Genuity Ltd (Nomad for Planet Payment)
Simon Bridges / Cameron Duncan
Tel: +44 20 7523 8000
Planet Payment, Inc. (MM) (NASDAQ:PLPM)
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