23 Jan 2013 15:59
BANKERS PETROLEUM LIMITED - Bankers Petroleum Ltd. - Employee Stock Savings PlanBANKERS PETROLEUM LIMITED - Bankers Petroleum Ltd. - Employee Stock Savings Plan
PR Newswire
London, January 23
Bankers Petroleum Ltd. ("Bankers Petroleum" or the "Company")
Employee Stock Savings Plan
Further to the Company's announcement of January 16, 2013 regarding theimplementation of an Employee Stock Savings Plan ("ESSP"), Bankers Petroleumwill report the purchases by directors and senior employees on a quarterlybasis. As such, the first announcement of such purchases will be released on oraround April 1, 2013.
Under the ESSP, employees may use up to 10% of their salary (matched equally bythe Company) to purchase Bankers Petroleum shares on the Toronto StockExchange, on each pay period (mid-month and month-end). Abby Badwi (CEO),Douglas Urch (CFO) and Suneel Gupta (COO) have elected to participate in theplan, with a participation level of 10% of each of their respective salaries.
Notification will be made if there is any change to the participation level ofdirectors and senior employees in the ESSP. Applicable Employees (as defined byAim Rules) will be prohibited from joining the ESSP and from changing orcancelling their contribution in any Close Period (as defined by the AIM Rulesfor Companies).
For further information, contact:
Doug UrchExecutive VP, Finance and Chief Financial OfficerPh: (403) 513-2691Email: investorrelations@bankerspetroleum.comWebsite: www.bankerspetroleum.comAIM NOMAD:Canaccord Genuity LimitedHenry Fitzgerald-O'Connor+44 0 207 523 8000AIM BROKER:FirstEnergy Capital LLPHugh Sanderson / David van Erp+44 0 207 448 0200