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 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
(Cdn. $)
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%
1. 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.
2. 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
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