LONG BEACH, N.Y., June 18, 2013 (GLOBE NEWSWIRE) -- Planet Payment, Inc. (Nasdaq:PLPM) (LSE:AIM:PPT), a leading provider of international payment processing and multi-currency processing services, announced today that it is set to join the Russell 3000, when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 28, 2013, according to a preliminary list of additions posted June 14, 2013 on www.russell.com/indexes.
Membership in the broad-based Russell 3000 Index will also mean inclusion in the Russell 2000 and Russell Global Indexes. Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization.
Philip Beck, Chairman and CEO of Planet Payment commented: "We are very pleased to become a member of the Russell Indexes. We believe that being added to these Indexes reflects the progress we have made, should increase our visibility in the investment community and may also lead to the expansion of our investor base."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4.1 trillion in assets are benchmarked to the Russell Indexes.
Notice Regarding 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 set forth in Mr. Beck's comments and including those relating to future inclusion in any Russell Index and the impact of such inclusion on the investment community and the investor base are forward-looking statements. Such forward-looking statements are based on a number of assumptions, which assumptions may or may not be fulfilled in practice. See the Company's Quarterly Report on Form 10-Q, filed at www.sec.gov for various 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.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm's core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.
Russell has more than $173 billion in assets under management (as of 3/31/2013) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.6 trillion in assets under advisement (as of 12/31/2012). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.4 trillion in 2012 through its implementation services business.
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 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.
CONTACT: Planet Payment, Inc. Graham N. Arad, SVP General Counsel Tel: + 1 516 670 3200 www.planetpayment.com Redleaf Polhill (UK PR for Planet Payment) Emma Kane / Rebecca Sanders-Hewett / David Ison Tel: +44 207 382 4730 email@example.com ICR (USA IR for Planet Payment) Don Duffy / Dara Dierks Tel: +1 646-277-1212 Canaccord Genuity Ltd (UK) (Nomad for Planet Payment) Simon Bridges / Andrew Chubb Tel: +44 20 7523 8000Source:Planet Payment