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LONG BEACH, N.Y., March 22, 2013 (GLOBE NEWSWIRE) -- Planet Payment, Inc.
(LSE:PPT) (LSE:PPTR) (Nasdaq:PLPM), a leading provider of international payment processing and multi-currency processing services, received notification on 21 March 2013 of the following share dealings by a Director.
As previously notified, prior to the end of December 2012, Mr. Beck exercised expiring options and acquired a total of 311,342 common shares in the Company in part for a cash purchase price totalling $675,000. On 21 March 2013 the Company was notified of the following share sales:
No. of Shares
Date of Transaction
Average Price per Share
Total No Shares post-Transaction
Percentage of Voting Interests
20 & 21 March 2013
All of the Common Shares were sold pursuant to a Pre-set Diversification Program Agreement ("PDP") entered into by Mr. Beck on December 14, 2012. The PDP was entered into in accordance with the requirements of Rule 10b5-1(c)(1) under the United States Securities Exchange Act of 1934. The PDP, was entered into during an open period, at a time when Mr. Beck was not in possession of material non-public or material price sensitive information regarding the Company. Under the PDP, shares are to be sold by Mr. Beck's broker through the market in accordance with the pre-set instructions set forth in the PDP and without any further input, information or instructions from Mr. Beck prior to any sale.
Investors may note that this press release is required in accordance with London Stock Exchange plc AIM rules governing share transactions by directors and is in addition to the usual SEC filings that will be made by Mr. Beck in the ordinary course. London Stock Exchange plc AIM rules require a press release to be issued whenever there is a share transaction by a director.