Planet Payment Inc. Director/PDMR Shareholding (0825F)

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RNS Number : 0825F

Planet Payment Inc.

20 May 2013

   Date:                            20 May 2013 
   On behalf of:                 Planet Payment, Inc. ("the Company" or "Planet Payment") 
   Embargoed until:           0700 hrs 

Director/PDMR Option and Restricted Stock Grants

Directors' Shareholdings Update

Planet Payment, Inc. (NASDAQ:PLPM) (LSE: AIM: PPT), a leading provider of international payment processing and multi-currency processing services, announces the following changes to directors' holdings. On 16 May 2013 the following director and person discharging managerial responsibility ("PDMR") of Planet Payment, were granted options exercisable into Common Shares in the Company of $0.01 par value ("Options"), as part of their annual compensation package approved by the Compensation Committee of the Board:

 
     Director / PDMR        No. of Options 
  Graham Arad (Director)            29,000 
                           --------------- 
  Robert Cox (PDMR)                 37,000 
                           --------------- 
 

The exercise price of the Options is $2.84 per share (approximately GBP1.86), based on the closing price of our Common Shares on NASDAQ, on 16 May 2013. The Options vest as to one-third of the shares annually over a period of three years and have a term of 10 years from the date of grant, in both cases subject to continuation of employment by the Company.

Planet Payment also announces that on 16 May 2013 Graham Arad and Robert Cox were granted restricted shares of Common Stock of the Company ("Restricted Stocks"), subject to specific performance conditions, as part of their annual compensation package approved by the Compensation Committee of the Board:

 
      Director/PDMR                         No. of Restricted Stock 
 Graham Arad (Director)                                      38,333 
                          ----------------------------------------- 
 Robert Cox (PDMR)                                           48,333 
                          ----------------------------------------- 
 

The Restricted Stocks vest as to one-third of the shares annually over a period of three years, subject to continuation of employment by the Company.

Mr. Arad advised the Company that he has ceased to be interested in 43,400 Common Shares, which are owned by his son who has now turned 18 years old.

Following the above transactions, Mr. Arad is now interested in 1,029,739 Common Shares, representing 1.7% of the issued and outstanding common stock (including the outstanding shares of Series A Preferred Stock on an as converted to Common Stock basis ("Issued Common Stock")), and Mr. Cox is interested in 148,333 Common Shares, representing 0.2% of the Issued Common Stock.

On 16 May 2013 Philip Beck transferred 80,000 Common Shares by way of gift without consideration for estate planning purposes. Mr. Beck remains interested in 22,500 of the transferred shares which are held for his children. Following these transfers Mr. Beck remains interested in 2,633,046 Common Shares, representing 4.3% of the Issued Common Stock.

About Planet Payment

Planet Payment is a leading provider of international payment processing and multi-currency processing services. We provide our services in more than 20 countries and territories across the Asia Pacific region, North America, the Middle East, Africa and Europe, primarily through our more than 50 acquiring bank and processor customers. Our point-of-sale and e-commerce services help merchants sell more goods and services to consumers, and together with our ATM services are integrated within the payment card transaction flow enabling our acquiring customers, their merchants and consumers to shop, pay, transact 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.

Enquiries:

 
 Planet Payment, Inc.                          Tel: + 1 516 670 3200 
  Graham N. Arad, SVP General Counsel           www.planetpayment.com 
 Redleaf Polhill (UK PR for Planet Payment)    Tel: [phone] 
  Emma Kane / Rebecca Sanders-Hewett / David    [e-mail] 
  Ison 
 ICR (USA IR for Planet Payment)               Tel: [phone] 
  Don Duffy / Dara Dierks 
 
 

Canaccord Genuity Ltd (UK) (Nomad for Planet Payment)

Simon Bridges / Andrew Chubb Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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