August 3, 2016
AIM: BNK
Bankers Petroleum Ltd.
(“Bankers Petroleum” or the
“Company”)
Employee Stock Savings Plan – July 29,
2016 Update
Further to the Company's announcement of January 16, 2013 regarding the implementation of
an Employee Stock Savings Plan ("ESSP"), Bankers Petroleum
announces that during the period from July
16, 2016 to the period ending July
29, 2016, the following purchases were made by senior
employees:
|
Name |
Date
of Purchase |
Number of Common Shares Purchased |
Employer’s Contribution(1) |
Purchase Price
(Cdn. $) |
Employer’s Contribution Vested(2) |
Resulting Number of Common Shares held as at 29 July
2016 |
Resulting
Holding as at
29 July
2016 as
% total
voting rights |
David
French, President and Chief Executive
Officer |
July
29 |
1,125 |
563 |
2.00 |
940 |
272,697 |
0.1% |
| Douglas C. Urch,
Executive Vice President, Finance and Chief Financial
Officer |
July
29 |
743 |
372 |
2.00 |
621 |
1,103,092 |
0.4% |
| Suneel Gupta,
Executive Vice President and Chief Operating
Officer |
July
29 |
743 |
372 |
2.00 |
620 |
607,287 |
0.2% |
- These shares are the matching shares purchased by the Company,
which shall vest to the shareholder twelve months from the date of
purchase, provided the shareholder is still an employee of the
Company. As of January 1, 2016 the
Company’s matching shares were reduced from 100% to 50% of the
employees purchase amount.
- These shares are the matching shares purchased by the Company
twelve months ago and are now vested to the shareholder.
As previously announced, under the ESSP, employees may use up to
10% of their salary (matched equally by the Company) to purchase
Bankers Petroleum shares on the Toronto Stock Exchange, on each pay
period (midmonth and month-end). David
French, Douglas Urch and
Suneel Gupta elected to participate
in the plan, with a participation level of 10% of each of their
respective salaries.
All further announcements regarding the senior employees’
participation in the ?ESSP will be announced within 3 business days
of their occurrence and accordingly the next announcement is
expected on August 18 or sooner, if
required.
For further information, contact:
Doug Urch
Executive VP, Finance and Chief Financial Officer
Ph: (403) 513-2691
Email: investorrelations@bankerspetroleum.com
Website: www.bankerspetroleum.com
AIM NOMAD:
Canaccord Genuity Limited
Henry Fitzgerald-O’Connor
+44 0 207 523 8000
AIM BROKER:
FirstEnergy Capital LLP
Hugh Sanderson / David van Erp
+44 0 207 448 0200