Bankers Petroleum Limited Employee Stock Savings Plan Update

 
TIDMBNK 
 
July 19, 2016 
 
AIM: BNK 
 
Bankers Petroleum Ltd. ("Bankers Petroleum" or the "Company") 
 
Employee Stock Savings Plan - July 15, 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 1, 2016 to the period ending July 
15, 2016, the following purchases were made by senior employees: 
 
    Name      Date of   Number of   Employer's  Purchase   Employer's  Resulting  Resulting 
              Purchase    Common   Contribution   Price   Contribution Number of   Holding 
                          Shares       (1)      (Cdn. $)   Vested(2)     Common     as at 
                        Purchased                                        Shares    15 July 
                                                                       held as at  2016 as 
                                                                        15 July    % total 
                                                                          2016     voting 
                                                                                   rights 
 
David         July 15     1,093        547        2.04        809       270,632     0.1% 
French, 
President 
and Chief 
Executive 
Officer 
 
Douglas C.    July 15      721         361        2.04        534      1,101,728    0.4% 
Urch, 
Executive 
Vice 
President, 
Finance and 
Chief 
Financial 
Officer 
 
Suneel        July 15      722         361        2.04        535       605,924     0.2% 
Gupta, 
Executive 
Vice 
President 
and Chief 
Operating 
Officer 
 
 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 4 August or sooner, if 
required. 
 
For further information, contact: 
 
Doug Urch 
Executive VP, Finance and Chief Financial Officer 
Ph: [phone] 
Email: [e-mail] 
Website: http://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

July 19, 2016 02:00 ET (06:00 GMT)