SOURCE: Pink OTC Markets Inc.

November 19, 2008 08:00 ET

Planet Payment, Inc. Joins OTCQX

NEW YORK, NY--(Marketwire - November 19, 2008) - Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that U.S.-based Planet Payment, Inc. (PINKSHEETS: PLPM) (OTCQX: PLPM), an international credit card payment and data processor that trades on the AIM market in London, has joined OTCQX.

Beginning today, U.S. investors can find real-time quotes, disclosure and financial information about Planet Payment at and under ticker PLPM.

As part of listing on OTCQX, Planet Payment has increased the publication of its financial results from semiannual to quarterly, which conforms to investor expectations for disclosure by U.S. domiciled companies.

U.S. issuers are required to provide quarterly reporting with an annual U.S. GAAP audit to join the OTCQX market tiers while non-U.S. issuers on International OTCQX tiers conform to the disclosure requirements of their home country exchange.

"We are delighted to welcome Planet Payment to OTCQX where U.S shareholders can now efficiently access Planet Payment's quarterly disclosure and investors can use their primary brokers for direct trading during U.S. hours and in U.S. dollars," said Cromwell Coulson, Chairman and CEO of Pink OTC Markets. "OTCQX is the natural home for U.S. companies that went overseas to raise capital and now wish to have an additional reputable and liquid secondary market for their shareholders and employees. We are proud to add Planet Payment to our growing list of OTCQX issuers."

Canaccord Adams will act as Planet Payment's Investment Bank Designated Advisor for Disclosure (DAD). "Canaccord Adams is pleased to act as DAD for Planet Payment on OTCQX," said Andy Viles, Managing Director, Head of US Mergers & Acquisitions at Canaccord. "By becoming a DAD, Canaccord is uniquely positioned to sponsor growth companies in both the U.S. and in the U.K. where we are also a leading Nomad on the AIM market."

About Planet Payment, Inc.

Planet Payment is an international credit card payment and data processor registered with Visa and MasterCard. It enables processors, acquiring banks and their merchants around the world to accept, process and reconcile credit card transactions in multiple currencies. Planet Payment also offers e-commerce and mobile payment solutions for credit cards and electronic check payments.

About Canaccord Adams

Canaccord Adams is a leading independent financial services firm committed to fostering the entrepreneurial economy by bringing corporate and institutional clients unique perspective on global investment opportunities. With operations in research, sales and trading, and investment banking, our 225 professionals seek out emerging opportunities in our key sectors -- Mining and Metals, Energy, Technology, Life Sciences, Real Estate and Gaming, Consumer and Industrial Growth. Located in eight offices internationally, our experienced team generates focused, actionable ideas that identify opportunity and facilitate growth.


OTCQX offers a highly visible and efficient market tier for reputable companies trading over-the-counter. OTCQX closes the credibility gap by creating the only listing process on the OTC, but also offers companies a choice to be SEC reporting or meet OTCQX's alternative disclosure process, which is typically less expensive and onerous than full SEC reporting.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market, with innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.

Over 230 financial service firms, including the ten largest U.S. investment banks, actively make markets in OTCQX and Pink Sheets quoted securities and in 2007 these firms traded over $160 billion of OTCQX and Pink Sheets securities. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full service brokers.

Pink OTC Markets is headquartered in New York City.

To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at and or contact us at

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