LONG BEACH, N.Y., Oct. 8, 2012 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (LSE:PPT) (LSE:PPTR) (OTCQX:PLPM), a leading provider of international payment processing and multi-currency processing services, announces that it is calling a Special Meeting of shareholders, in connection with a proposed plan to have its shares of Common Stock admitted for trading on NASDAQ.
The purpose of the meeting is to consider and approve the resolutions and documents similar to those previously adopted by the shareholders in January 2012. The Company intends to file a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission. When the Form 10 becomes effective, the Company will become a reporting company in accordance with SEC rules and this will enable the Company to be listed on NASDAQ. The key changes in the resolutions and documents are those required to make the resolutions and the documents effective around the effective date of the Form 10 and to reflect the assumption that the Company will not be undertaking a public offering in conjunction with the NASDAQ admission.
A Notice of Availability of proxy materials is being sent to shareholders today by mail and e-mail, as well as a full set of proxy materials to all shareholders who have elected to receive this. This includes instructions on how to access the Notice of Special Meeting and Exhibits. The Company has posted the documents relating to the meeting on its website at www.planetpayment.com.
The meeting will be held on 26 October 2012 in the Company's head offices at 670 Long Beach Boulevard, Long Beach, New York 11561, USA. Shareholders planning to attend are requested to notify the Company in advance for administrative purposes.
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 www.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 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 Half-yearly Report for the period ended June 30,2012, filed at www.otcqx.com, 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.