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BNK Bankers Pet

125.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bankers Pet LSE:BNK London Ordinary Share CA0662863038 COM SHS NPV (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 125.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Bankers Petroleum Limited BNK Announces Closing of Plan of Arrangement Transaction

29/09/2016 2:30pm

UK Regulatory


 
TIDMBNK 
 
BANKERS PETROLEUM ANNOUNCES CLOSING OF PLAN OF ARRANGEMENT TRANSACTION 
 
CALGARY, September 29, 2016 - Bankers Petroleum Ltd. ("Bankers" or the 
"Company") (TSX: BNK, AIM: BNK) is pleased to announce, with effect from today, 
the closing of its previously announced plan of arrangement (the "Arrangement") 
with affiliates of Geo-Jade Petroleum Corporation (collectively, "Geo-Jade"). 
 
Pursuant to the Arrangement, Geo-Jade has acquired all the issued and 
outstanding common shares of Bankers (the "Bankers Shares") through its 
affiliates for a cash price of C$2.20 per Bankers Share. It is expected that 
the Bankers Shares will be delisted from the Toronto Stock Exchange ("TSX") in 
approximately three to four business days. The Bankers Shares will also be 
delisted from the AIM market of the London Stock Exchange and this cancellation 
of the AIM Bankers Shares is expected to occur at 8:00 am BST on 30 September 
2016. 
 
Bankers understands that beneficial shareholders, who hold their common shares 
through an intermediary such as a bank, broker or investment firm, should 
expect to receive payment approximately five to seven business days after 
closing. 
 
Registered shareholders of Bankers, who have not already done so, should submit 
their certificates representing their Bankers Shares along with a completed 
letter of transmittal to Alliance Trust Company, in order to receive the 
consideration they are entitled to pursuant to the Arrangement. Registered 
shareholders are those that hold a physical certificate representing their 
Bankers Shares. Letters of transmittal were previously sent to registered 
Shareholders of Bankers and additional copies may be obtained by contacting 
Alliance Trust Company at 1-877-537-6111 or by emailing 
inquiries@alliancetrust.ca. Shareholders who hold their shares in a brokerage 
account should contact their investment adviser in connection with submitting 
their Bankers Shares for payment. 
 
FirstEnergy Capital LLP acted as financial advisor to Bankers in connection 
with the Arrangement. McCarthy Tétrault LLP acted as legal advisors to Bankers 
with respect to the Arrangement. 
 
Further details regarding the Arrangement can be found in the Management 
Information Circular dated April 19, 2016 prepared in connection with the 
Arrangement and the addendum thereto, each filed on SEDAR at www.sedar.com. 
 
                                 ------------ 
 
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. 
 
The information communicated in this announcement is inside information for the 
purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR"). 
 
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 delisting of the Bankers Shares and the 
anticipated timing of payment to holders of Bankers Shares of the consideration 
payable pursuant to the Arrangement. By their nature, forward-looking 
statements are subject to numerous risks and uncertainties, some of which are 
beyond Bankers' control. The foregoing list is not exhaustive. 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. 
 
For further information, contact: 
 
David French President and Chief Executive Officer (403) 513-6930 
 
Doug Urch Executive VP, Finance and Chief Financial Officer (403) 513-2691 
 
Laura Bechtel Investor Relations and Corporate Communications Specialist (403) 
513-3428 
 
Email: investorrelations@bankerspetroleum.com 
 
Website: www.bankerspetroleum.com 
 
AIM NOMAD: 
 
Canaccord Genuity Limited 
 
Henry Fitzgerald-O'Connor 
 
+44 0 207 523 8000 
 
AIM BROKER AND FINANCIAL ADVISOR: 
 
FirstEnergy Capital LLP 
 
Hugh Sanderson / David van Erp 
 
+44 0 207 448 0200 
 
(BNK. BNK) 
 
 
 
END 
 

(END) Dow Jones Newswires

September 29, 2016 09:30 ET (13:30 GMT)

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