Planet Payment Inc. Directors' Option Exercises (4980U)

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RNS Number : 4980U

Planet Payment Inc.

28 December 2012

   Date:                            28 December 2012 
   On behalf of:                 Planet Payment, Inc. ("the Company" or "Planet Payment")

For Immediate Release

Directors' Option Exercises

Planet Payment, Inc. (USA: NASDAQ: PLPM; UK: LSE: AIM: PPT and PPTR), a leading provider of international payment processing and multi-currency processing services, announces the following issues of shares pursuant to the exercise of a stock options by Mr. Philip Beck, Chairman and CEO, and Mr. Graham Arad, Director and SVP, General Counsel.

On Thursday 27 December 2012 the above mentioned directors exercised stock options via the "net exercise method" in accordance with the Company's 2006 Equity Incentive Plan, pursuant to which shares subject to the option are cancelled in order to pay the exercise price of the remaining shares. Each director will pay the income and other taxes arising out of the exercises in cash. As a result of these exercises the following shares of Common Stock will be issued to each director respectively:

                           Philip D. Beck:              41,342 shares 
                           Graham N. Arad:          28,800 shares

Each option was for an exercise price of $2.50 and was due to expire on 31 December 2012. The remaining shares which are subject to the options which were exercised were cancelled, as follows: Philip Beck 172,258; Graham Arad 120,000.

Following the issue of the shares pursuant to the option exercise:

Mr. Beck is interested in a total of 2,746,470 shares of Common Stock representing approximately 4.5% of the issued and outstanding shares of Common Stock (including the outstanding shares of Series A Preferred Stock on an as converted to Common Stock basis).

Mr. Arad is interested in a total of 1,034,806 shares of Common Stock representing approximately 1.7% of the issued and outstanding shares of Common Stock (including the outstanding shares of Series A Preferred Stock on an as converted to Common Stock basis).

About Planet Payment

Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in 18 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 45 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.

Enquiries:

 
 Planet Payment, Inc.                         Tel: + 1 516 670 3200 
  Graham Arad, SVP General Counsel             www.planetpayment.com 
 Redleaf Polhill (UK PR for Planet Payment)   Tel: +44 20 7566 6720 
  Emma Kane / Henry Columbine / Rebecca        planet@redleafpolhill.com 
  Sanders-Hewett 
 ICR (US PR for Planet Payment)               Tel: +1 646-277-1212 
  Don Duffy / Dara Dierks 
 
 Canaccord Genuity Ltd (UK) (Nomad for        Tel: +44 20 7523 8000 
  Planet Payment) 
  Simon Bridges / Andrew Chubb

This information is provided by RNS

The company news service from the London Stock Exchange

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