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Planet Payment Filings And Warrant Exercise

Stocks in this article: PLPM PPT

LONG BEACH, N.Y., Dec. 19, 2012 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM) (LSE:PPT) (LSE:PPTR), a leading provider of international payment processing and multi-currency processing services, announces the following matters in connection with its listing on the NASDAQ market.

The Company's Amended and Restated Certificate of Incorporation, previously approved by the stockholders on October 26, 2012, has now been filed with the Delaware Secretary of State and is therefore effective. As a result the number of shares which the Company is authorized to issue has been increased to 250,000,000 shares of Common Stock and 10,000,000 shares of Preferred Stock. The Amended and Restated Bylaws of the Company are now also in effect. Copies of both documents are available at the Company's enhanced Investor Relations site at http://ir.planetpayment.com .

The Company's 2012 Equity Incentive Plan and 2012 Equity Stock Purchase Plan became effective and the Company intends shortly to make the necessary filings with the SEC, thereby effecting registration of all shares issuable under such Plans in accordance with the Securities Act of 1933.

Inter-Atlantic Fund L.P. exercised its warrant dated 17 November 2005 (as amended) in accordance with its terms and as a result, 917,602 new shares of Common Stock are being issued to Inter-Atlantic. The warrant was exercised using the "net-issuance" or cashless exercise method under which 464,115 shares subject to the Warrant were cancelled as payment for the shares being issued. 

The Company has applied for 917,602 new Common Shares in the PPT unrestricted line to be admitted to trading on AIM.  These new Common Shares, which will rank pari passu in all respects with the existing Common Shares of the Company, are expected to be admitted to trading on AIM on 24 December 2012. Following the admission of the above shares, the Company will have a total of 53,309,038 issued and outstanding Common Shares of which 2,091,127 Common Shares will be admitted on AIM under the ticker PPTR, the Reg. S line, and 51,217,911 Common Shares will be admitted on AIM under the ticker PPT. 

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