Planet Payment Inc. Director's Restricted Stock Grant (2257T)
November 18 2013 - 1:01AM
UK Regulatory
TIDMPPT TIDMTTM
RNS Number : 2257T
Planet Payment Inc.
18 November 2013
Date: 18 November 2013
On behalf of: Planet Payment, Inc. ("the Company" or "Planet Payment")
Embargoed until: 0700 hrs
Director's Restricted Stock Grant
Planet Payment, Inc. (NASDAQ:PLPM) (LSE: AIM: PPT), a leading
provider of international payment and transaction processing and
multi-currency processing services, announces that on 15 November
2013 the Company granted at nil cost 200,000 Restricted Common
Shares of $0.01 par value in the Company ("Restricted Stock "), to
Mr. Carl Williams a Director of the Company. This grant was made in
connection with Mr. Williams taking up office as President of the
Company and is made, pursuant to the Company's 2012 Equity
Incentive Plan
The Restricted Stock vesting is subject to performance
conditions and the shares are subject to forfeiture by the Company,
in the event that the conditions are not met prior to 31 May 2015.
The performance conditions are as follows:
The shares will become vested if the closing price of the
Company's common stock on The NASDAQ Stock Market is at least $6.00
per share for 30 consecutive trading days. Additionally, in the
event that the Company completes a change of control transaction,
the shares shall become vested if the consideration for such
transaction is at least $6.00 per share, or the fair market value
of the Company's common stock immediately following such change of
control transaction is at least $6.00 per share.
Following the above transactions, Mr. Williams' interest in the
issued and outstanding common stock of the Company (including the
outstanding shares of Series A Preferred Stock on an as converted
to common stock basis ("Issued Common Stock")), is 215,000 Common
Shares representing 0.35% of the Issued Common Stock.
About Planet Payment
Planet Payment is a leading provider of international payment
and transaction processing and multi-currency processing services.
We provide our services in 22 countries and territories across the
Asia Pacific region, North America, the Middle East, Africa and
Europe, primarily through our more than 60 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: +44 207 382 4730
Emma Kane / Rebecca Sanders-Hewitt / David planet@redleafpolhill.com
Ison
Canaccord Genuity Ltd (Nomad for Planet Payment)
Simon Bridges / Cameron Duncan Tel: +44 20 7523 8000
This information is provided by RNS
The company news service from the London Stock Exchange
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