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FAQ’s - OTCQX
Trading on the OTCQX and Transfer of Shares from the UK Stock Register to the US Stock Register
- What is the OTCQX?
- What is Planet Payment's US stock symbol?
- Do Planet Payment shares now have to be traded in the US?
- How do I trade shares on the OTCQX?
- Can I now hold my shares in a US brokerage account?
- How do I deposit my shares into a U.S. brokerage account if I have a physical stock certificate?
- How do I deposit my shares into a US brokerage account if I have shares held in CREST?
- Are there fees involved in moving the stock?
- Does this mean that Planet Payment is now a US Public Company?
- If I buy shares on AIM do they have to be held in the UK or vice versa?
- If you have any queries please contact Computershare at:
1. What is the OTCQX? Top of Page
OTCQX is a new premium listing service for issuers of securities that are traded over-the-counter (OTC). The OTCQX trading, quotation and disclosure platform, comprised of the PremierQXSM and PrimeQXSM tiers, is designed to distinguish public companies meeting certain enhanced disclosure and other criteria from the nearly tens of thousands of securities traded OTC. Additional information is available on www.otcqx.com.
2. What is Planet Payment's US stock symbol? Top of Page
Planet Payment’s unrestricted Common Shares trade in the US on the OTCQX under the ticker "PLPM", with the stock price quoted in US dollars. Shares of Planet Payment continue to be traded on the London Stock Exchange’s AIM market under the tickers “PPT” (unrestricted) and “PPTR” (Reg. S shares), with the stock price continuing to be quoted in Pounds Sterling.
3. Do Planet Payment shares now have to be traded in the US? Top of Page
No, the Company’s shares continue to trade on the AIM market, and you and your broker should work together to decide whether to trade shares in the US or UK.
4. How do I trade shares on the OTCQX? Top of Page
Planet Payment’s unrestricted stock are tradeable on the OTCQX under the ticker symbol “PLPM”. Most US brokers and many of the online trading systems are enabled to buy and sell shares which are listed on the Pink Sheets including the OTCQX. It is recommended that you speak to your broker or other financial advisor before trading in any stock.
5. Can I now hold my shares in a US brokerage account? Top of Page
Yes, although in theory it was always possible to hold Planet Payment stock through your broker, in practice many brokers had difficulty in dealing with an AIM listed stock. Now, because Planet shares are traded in the US and are eligible for settlement through the Depository Trust Company (“DTC”), US brokers can deposit your Planet unrestricted stock, whether PPT or PLPM, into a US brokerage account.
6. How do I deposit my shares into a U.S. brokerage account if I have a physical stock certificate? Top of Page
In all cases you will need to work with your broker so please direct your broker to these instructions.
(a) If your certificate has a restrictive legend on it, you will need to determine if the legend can be removed since only unrestricted stock can be held in this manner. Generally, if you have held the shares for more than a year and you are not an affiliate of the Company, you will be eligible to have the legend removed.
If you have any questions please contact our Investor Relations department at investors@planetpayment.com.
(b) The broker then needs to complete a "UK to US Removal Form". Complete a downloadable form, available by clicking here: UK to US Removal Form.
(c) You will need to sign a form to transfer your shares to your broker. In the US, ask your broker for a US style Stock Power. In the UK, ask your broker for a UK style Stock Transfer form.
(d) The share certificate(s), removal form and share transfer should be sent by overnight delivery to:
Computershare Investor Services Inc
Attn: Karen Correia - Global Transaction Unit
250 Royall Street
Canton, MA 02021
USA
Tel: +1 877-624-5999
Or to
Computershare Investor Services (Channel Islands) Limited
Ordnance House
31 Pier Street
St Helier, JERSEY
JE4 8PW
United Kingdom
7. How do I deposit my shares into a US brokerage account if I have shares held in CREST? Top of Page
In all cases you will need to work with your broker so please direct your broker to these instructions.
(a) The first thing your broker will need to do is to withdraw the shares from their CREST account into the broker’s nominee account name by submitting a CREST Stock Withdrawal.
(b) At the same time the CREST Stock Withdrawal is processed, the UK broker completes the required form to remove the shares from the UK to the US. Complete a downloadable form, available by clicking here: UK to US removal form
The manually completed form can be
emailed to: !ALLUKGlobalTransactionTeam@computershare.com
or
sent by facsimile to +44 (0) 870 889 3120 attn: John Gorski.
8. Are there fees involved in moving the stock? Top of Page
Computershare charges fees for transferring shares between the US and the UK registers. Their current fee schedules can be obtained from www.computershare.com. Planet Payment does not charge any fees for this process nor for providing assistance to shareholders in connection therewith. You should consult your broker as to whether they charge any fees for handling this process for you, separate from any trading commissions or charges.
9. Does this mean that Planet Payment is now a US Public Company? Top of Page
Planet Payment’s shares can be freely purchased by anyone, including US persons, whether through AIM or OTCQX. However Planet Payment has not filed a registration statement with the SEC, nor will it be subject to the SEC reporting requirements, including Sarbanes Oxley Act compliance at this time. Accordingly, although its shares are publicly traded in the US, the Company does not currently have all of the obligations and expense that goes along with being a public company under US Securities laws, nor some of the privileges. The Company is, however, subject to the public disclosure requirements of the OTCQX, which include quarterly financial reporting. Additional information is available on www.otcqx.com.
10. If I buy shares on AIM do they have to be held in the UK or vice versa? Top of Page
No, because of Computershare’s advanced Global registry systems, shares purchased in either country can be held on the share register in the other by transferring the shares between the US and the UK registers, according to which form of holding suits the investor best.
11. If you have any queries please contact Computershare at: Top of Page
In the US:
Global Transaction Unit NA (USA)
Phone +1 877-624-5999 (Toll free)
+1 781-575-4086 (Local)
Fax + 1 617-360-6841
Email: USAllGlobalTransactionTeam@computershare.com
Or in the UK:
John Gorski
Manager Global Transaction Unit - United Kingdom
Computershare
John.gorski@computershare.com
!AllUKGlobalTransactionTeam@computershare.co.uk
T +44 (0) 870 702 0002 x1075
M +44 (0) 79 2005 3685
www.computershare.com
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