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LONG BEACH, N.Y., Oct. 11, 2012 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (LSE:PPT) (LSE:PPTR) (OTCQX:PLPM), a leading provider of international payment processing and multi-currency processing services, today announced that it has filed a Registration Statement on Form 10 with the United States Securities and Exchange Commission ("SEC"). When it becomes effective, the Form 10 will make the Company a reporting company in accordance with SEC rules and enable the Company to be listed on NASDAQ.
The Company believes that it is in the best interests of the Company and its stockholders for the Common Stock to be traded on NASDAQ, regardless of whether the Company undertakes a fundraising at this time. Therefore, the Company is filing a Registration Statement on a Form 10, which enables the Company to be listed on NASDAQ, without any requirement for a simultaneous offering of shares.
The Company believes that the process can be completed as early as November 2012.
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 are integrated within the payment card transaction flow enabling our acquiring customers to process 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.
Forward-Looking Statements. Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the filing and effectiveness of a Registration Statement on Form 10, are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Planet Payment's present and future business strategies, and the environment in which Planet Payment expects to operate in future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including, regulatory changes and changes in card association regulations and practices; changes in domestic and global economic conditions and changes in volume of international travel and commerce, the impact of the BPS acquisition and others. See the Company's filed Registration Statement on Form 10, for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Planet Payment expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
CONTACT: Planet Payment, Inc.
Graham Arad, SVP General Counsel
Tel: + 1 516 670 3200
Redleaf Polhill (UK PR for Planet Payment)
Emma Kane / Henry Columbine / Rebecca Sanders-Hewett
Tel: +44 20 7566 6720
ICR (US PR 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
Canaccord Genuity, Inc. (US) (DAD for Planet Payment)
Tel: +1 617-371-3900