2 Sep 2016 07:00
BANKERS PETROLEUM LIMITED - Employee Stock Savings Plan - August 31, 2016 UpdateBANKERS PETROLEUM LIMITED - Employee Stock Savings Plan - August 31, 2016 Update
PR Newswire
London, September 2
September 1, 2016
AIM: BNK
Bankers Petroleum Ltd. (“Bankers Petroleum” or the “Company”)
Employee Stock Savings Plan – August 31, 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 August 16, 2016 to the period ending August 31, 2016, the following purchases were made by senior employees:
| Name | Date of Purchase | Number of Common Shares Purchased | Employer’s Contribution(1) | Purchase Price(Cdn. $) | Employer’s Contribution Vested(2) | Resulting Number of Common Shares held as at 31August 2016 | ResultingHolding as at31 August2016 as% totalvoting rights |
| David French, President and Chief ExecutiveOfficer | August 31 | 1,165 | 583 | 1.93 | 1,023 | 277,102 | 0.1% |
| Douglas C. Urch, Executive Vice President, Finance and Chief Financial Officer | August 31 | 769 | 385 | 1.93 | 675 | 1,106,000 | 0.4% |
| Suneel Gupta, Executive Vice President and Chief Operating Officer | August 31 | 770 | 385 | 1.93 | 675 | 610,195 | 0.2% |
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 September 20 or sooner, if required.
For further information, contact:Doug UrchExecutive VP, Finance and Chief Financial OfficerPh: (403) 513-2691Email: investorrelations@bankerspetroleum.comWebsite: http://www.bankerspetroleum.com/
AIM NOMAD:Canaccord Genuity LimitedHenry Fitzgerald-O’Connor+44 0 207 523 8000
AIM BROKER:FirstEnergy Capital LLPHugh Sanderson / David van Erp+44 0 207 448 0200