LONG BEACH, N.Y., Dec. 24, 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 purchase of shares by Mr. Philip Beck, Chairman and CEO, pursuant to the exercise of a stock option.
On Friday 21 December 2012 Mr. Beck exercised a stock option in respect of 270,000 shares of Common Stock of the Company. Mr. Beck paid the exercise price of $2.50 per share in cash. The stock option in question, which was exercised in part, will expire in accordance with its terms (to the extent not previously exercised) on 31 December 2012.
Following the issue of the shares pursuant to the option exercise Mr. Beck will be interested in a total of 2,705,128 shares of Common Stock representing approximately 4.5% of the issued and outstanding shares of Common Stock (including the outstanding shares of Series A Preferred Stock on an as converted to Common Stock basis).
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 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.