Bankers Petroleum Limited Acquisition(s)

 
TIDMBNK 
 
Bankers Petroleum files information circular in connection with special meeting 
of shareholders to consider acquisition by Geo-Jade 
 
CALGARY, April 20, 2016 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the 
"Company") (TSX: BNK, AIM: BNK) is pleased to announce that it has filed its 
Management Information Circular (the "Circular") and related proxy materials on 
SEDAR and its website (http://www.bankerspetroleum.com/), in advance of the 
Company's special meeting of shareholders to be held on May 31, 2016 (the 
"Special Meeting"). The purpose of the Special Meeting is to seek approval of 
the proposed plan of arrangement (the "Arrangement") with affiliates of 
Geo-Jade Petroleum Corporation ("Geo-Jade"). 
 
As previously announced on March 20, 2016, Bankers has entered into a 
definitive agreement (the "Arrangement Agreement") with affiliates of Geo-Jade 
for the purchase of all the issued and outstanding common shares of Bankers 
("Bankers Shares") at a cash price of C$2.20 per Bankers Share. If approved at 
the Special Meeting, closing of the Arrangement remains on track to occur in 
late June 2016, following which, the Bankers Shares will be delisted from the 
Toronto Stock Exchange ("TSX") and the AIM market of the London Stock Exchange. 
 
Bankers' shareholders of record on April 19, 2016 will receive notice of and be 
entitled to vote at the Special Meeting. The Arrangement must be approved by 
the holders of not less than 66?% of the Bankers Shares present in person or 
represented by proxy at the Special Meeting. Shareholders are encouraged to 
read the Circular as it provides important information about Bankers and the 
Arrangement. 
 
Benefits of the Arrangement include: 
 
  * Cash price of C$2.20 per Bankers Share 
  * Bankers debt will be handled separately by the purchasing Company and will 
    not affect the stated purchase price of $2.20 per Bankers Share 
  * The Arrangement is an opportunity for shareholders to crystalize value 
    representing a premium of 98% over Bankers' closing share price on the TSX 
    of C$1.11 on March 18, 2016, and 109% over the 30-trading day volume 
    weighted average trading price of Bankers Shares of C$1.05 per share ending 
    on March 18, 2016 
  * The Arrangement has received the unanimous approval of the Board of 
    Directors of Bankers and carries the full support of Bankers' Management 
    team 
 
Shareholder Voting: 
 
Bankers' Board of Directors unanimously recommends that shareholders vote in 
favor of the Arrangement. 
 
Shareholders who have questions regarding the Arrangement or require assistance 
with voting may contact the Proxy Solicitation Agent below: 
Laurel Hill Advisory Group 
Toll Free: 1-877-452-7184 
International: [phone] outside Canada and the US 
By Email: [e-mail] 
 
Special Meeting for Shareholders: 
 
The Special Meeting will be held at The Metropolitan Centre (Strand/Tivoli Rm), 
333 4th Avenue SW, Calgary, Alberta on Tuesday, May 31, 2016 at 3:00 p.m. 
(Calgary time). 
 
Bankers will provide further information with respect to the timing of closing 
of the Arrangement and the delisting of the Bankers Shares from the TSX and AIM 
as updates become available 
 
=---------- 
 
About Bankers Petroleum Ltd. 
 
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and 
production company focused on developing large oil and gas reserves in Albania 
and Eastern Europe. In Albania, Bankers operates and has the full rights to 
develop the Patos-Marinza heavy oilfield, has a 100% interest in the Kuçova 
oilfield, and a 100% interest in Exploration Block "F". In 2015 Bankers 
acquired an 85% interest in the rights to explore the Püspökladány Block 
concession within the Pannonian Basin located in north eastern Hungary. The 
Bankers Shares are traded on the TSX and the AIM Market in London, England 
under the stock symbol BNK. 
 
Caution Regarding Forward-looking Information 
 
Certain information set forth in this press release, including information and 
statements which may contain words such as "could", "plans", "intends" 
"should", "anticipate", "expects", "will", "propose", "opportunity", "future", 
"continue", and similar expressions and statements relating to matters that are 
not historical facts, contain forward-looking statements, including but not 
limited to statements regarding: the proposed Arrangement and the anticipated 
timing of closing, and the timing of the Special Meeting. By their nature, 
forward-looking statements are subject to numerous risks and uncertainties, 
some of which are beyond Bankers' control. Completion of the Arrangement is 
subject to a number of conditions, including receipt of the approval's required 
by the Investment Canada Act (Canada) and approvals required by the People's 
Republic of China and the competition authority of Albania, and other 
conditions which are typical for transactions of this nature. Failure to 
satisfy any of these conditions, the emergence of a superior proposal or the 
failure to obtain approval of Bankers' shareholders may result in the 
termination of the Arrangement Agreement. The foregoing list is not exhaustive. 
Additional information on these and other risks that could affect completion of 
the Arrangement is set forth in the information circular in respect of the 
Special Meeting, which is available on SEDAR at http://www.sedar.com/. Readers 
are cautioned that the assumptions used in the preparation of such information, 
although considered reasonable at the time of preparation, may prove to be 
imprecise and, as such, undue reliance should not be placed on forward-looking 
statements. The actual results, performance or achievement of Bankers could 
differ materially from those expressed in, or implied by, these forward-looking 
statements and, accordingly, no assurance can be given that any of the events 
anticipated by the forward-looking statements will transpire or occur, or if 
any of them do so, what benefits that Bankers will derive therefrom. Bankers 
disclaims any intention or obligation to update or revise any forward-looking 
statements, whether as a result of new information, future events or otherwise, 
except as required by applicable securities laws. 
 
 
 
 
David French, President and Chief Executive Officer, [phone]; Doug Urch, 
Executive VP, Finance and Chief Financial Officer, [phone]; Laura 
Bechtel, Investor Relations & Corporate Communications Specialist, (403) 
513-3428; Email: [e-mail], Website: 
www.bankerspetroleum.com; AIM NOMAD: Canaccord Genuity Limited, Henry 
Fitzgerald-O'Connor, [phone]; AIM BROKER: FirstEnergy Capital LLP, 
Hugh Sanderson / David van Erp, [phone] 
 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

April 21, 2016 02:00 ET (06:00 GMT)