LONG BEACH, N.Y., Dec. 14, 2012 (GLOBE NEWSWIRE) -- Planet Payment, Inc. ( USA: (Nasdaq:PLPM); UK: (LSE:PPT) (LSE:PPTR)), a leading provider of international payment processing and multi-currency processing services, announced that the Registration Statement previously filed on Form 10 with the United States Securities and Exchange Commission ("SEC") became effective today, making the Company a reporting company in accordance with SEC rules.
The Company expects trading of its stock on the NASDAQ Stock Market ("NASDAQ") to commence on Monday December 17, 2012 and shares will cease being traded on the OTCQX. The Company's unrestricted Common Stock will trade in the United States on NASDAQ under the ticker "PLPM," with the stock price quoted in United States dollars. The unrestricted Common Stock will also continue to trade on the London Stock Exchange's AIM market under the ticker "PPT" with the stock price quoted in Pounds Sterling.
Consistent with the filing of our Form 10, the Registration Statement previously filed on Form S-1 with the SEC has now been withdrawn since we are not undertaking a simultaneous fundraising.Commenting on the NASDAQ Listing, Philip Beck, Chairman and CEO of Planet Payment said: "Our NASDAQ admission represents an incremental step in the development and progress of the Company. I would like to take this opportunity to thank all of our dedicated employees and loyal stockholders for their efforts and support since the inception of the Company which helped us achieve this significant milestone. We look forward to continuing our growth in the coming year." 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 with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers to process and reconcile payment transactions in multiple currencies, geographies and channels.
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