CALGARY, Aug. 29, 2014 /CNW/ - ArPetrol Ltd.
("ArPetrol" or the "Company") (TSXV: RPT) is pleased
to provide the voting results from its annual and special meeting
of shareholders held on August 27,
2014. Shareholders approved the following proposals: (1) the
election Abdel Badwi, Jeffrey Boyce, Claudio
Ghersinich, Jason James and
Timothy Thomas as the directors of
the Corporation; (2) the appointment of Deloitte LLP as the
auditors of the Corporation; and (3) the annual approval of the
Company's stock option plan as required under TSX Venture Exchange
("TSXV") policies.
The Company also wishes to announce that today it granted
options to purchase an aggregate of 856,000 common shares to
certain directors, officers and employees of the Company pursuant
to the Company's approved stock option plan. The options are
exercisable at a price of $0.60 per
common share, will vest in thirds over three years and will expire
seven years from today's grant date. No options have been
granted by the Company since 2012, and this grant of options is
intended to assist in retaining and rewarding officers, directors
and employees of the Company and provide an at-risk, long-term
incentive that aligns with shareholders' interests to increase
value.
The Company also wishes to advise that its new corporate
presentation has been posted on the Company's corporate website and
is available at www.arpetrol.com.
About ArPetrol Ltd.
The Company is a Calgary based
public company currently engaged in oil and gas exploration,
development and production and third-party natural gas processing
in Argentina where it also owns
and operates a gas processing facility with capacity of 85 million
cubic feet (MMcf) per day. The Company's common shares are
listed on the TSXV under the symbol "RPT".
Additional information relating to the Company is also available
on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as
defined in the policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE ArPetrol Ltd.