19 Jul 2016 07:00
BANKERS PETROLEUM LIMITED - Employee Stock Savings Plan UpdateBANKERS PETROLEUM LIMITED - Employee Stock Savings Plan Update
PR Newswire
London, July 19
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 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 15 July 2016 | Resulting Holding as at 15 July 2016 as % total voting rights |
| David French, President and Chief Executive Officer | July 15 | 1,093 | 547 | 2.04 | 809 | 270,632 | 0.1% |
| Douglas C. Urch, Executive Vice President, Finance and Chief Financial Officer | July 15 | 721 | 361 | 2.04 | 534 | 1,101,728 | 0.4% |
| Suneel Gupta, Executive Vice President and Chief Operating Officer | July 15 | 722 | 361 | 2.04 | 535 | 605,924 | 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 4 August 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
BNK.L (BNK)