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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 Bankers Petroleum Approval for Proposed Arrangement

09/09/2016 5:54pm

UK Regulatory


 
TIDMBNK 
 
BANKERS PETROLEUM ANNOUNCES SAFE APPROVAL FOR PROPOSED ARRANGEMENT 
 
CALGARY, September 9, 2016 - Bankers Petroleum Ltd. ("Bankers" or the 
"Company") (TSX: BNK, AIM: BNK) is pleased to announce that the proposed plan 
of arrangement (the "Arrangement") with affiliates of Geo-Jade Petroleum 
Corporation ("Geo-Jade") has received Chinese State Administration of Foreign 
Exchange (SAFE) approval. At this time the required regulatory approvals for 
the completion of the Arrangement have been received. Bankers anticipates 
completion of the Arrangement to occur in the coming weeks, and prior to 
September 30, 2016. A further announcement will be made once exact timing of 
the ?completion has been established. 
 
Pursuant to the Arrangement, Geo-Jade will acquire all the issued and 
outstanding common shares of Bankers ("Bankers Shares") through its affiliates 
at a cash price of C$2.20 per Bankers Share. Following a successful completion 
of the Arrangement the Bankers Shares will be delisted from the Toronto Stock 
Exchange ("TSX") and the AIM market of the London Stock Exchange. 
 
                                 ------------ 
 
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. 
 
For further information, contact: 
 
David      President and Chief Executive Officer             (403) 513-6930 
French 
Doug Urch  Executive VP, Finance and Chief Financial Officer  (403) 513-2691 
Laura       Investor Relations and Corporate Communications   (403) 513-3428 
Bechtel    Specialis 
 
Email: investorrelations@bankerspetroleum.com 
Website: http://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 
 
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 proposed Arrangement, the anticipated 
timing of closing and the delisting of the Bankers Shares following completion 
of the Arrangement. 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 which are 
typical for transactions of this nature. Failure to satisfy any of these 
conditions or the emergence of a superior proposal may result in the 
termination of the arrangement agreement dated March 19, 2016 providing for the 
Arrangement. 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 management information circular of Bankers dated April 19, 2016 in 
respect of a special meeting of the shareholders of Bankers held on May 31, 
2016 to approve the Arrangement, which is available on SEDAR at 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. 
 
 
 
END 
 

(END) Dow Jones Newswires

September 09, 2016 12:54 ET (16:54 GMT)

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