2 Apr 2013 16:12
BANKERS PETROLEUM LIMITED - Statement re Bankers Petroleum Employee Stock SavingsBANKERS PETROLEUM LIMITED - Statement re Bankers Petroleum Employee Stock Savings
PR Newswire
London, April 2
Bankers Petroleum Ltd . ("Bankers Petroleum" or the "Company")
Employee Stock Savings Plan Quarterly Update
AIM: BNK
CALGARY, April 2 /CNW/ - 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 quarter ending 31 March 2013, thefollowing purchases were made by directors and senior employees:
Resulting Resulting Holding as Number of at 31 March Number of Common 2013 as % Common Employer's Purchase Shares held total Date of Shares Contribution Price as at 31 votingName Purchase Purchased (1) (Cdn. $) March 2013 rightsAbdel F. (Abby) March 28 684 684 2.68 1,516,254 0.6%Badwi,
President, March 15 609 609 3.01Chief ExecutiveOfficer and February 637 637 2.88Vice Chair 25 February 643 643 2.85 15 January 31 654 654 3.06 January 15 582 582 2.86 Douglas C. Urch March 28 513 513 2.68 925,913 0.4%- ExecutiveVice President, March 15 457 457 3.01Finance andChief Financial February 478 478 2.88Officer 25 February 482 482 2.85 15 January 31 490 490 3.06 January 15 437 437 2.86 Suneel Gupta - March 28 513 513 2.68 252,024 0.1%Executive VicePresident and March 15 457 457 3.01Chief OperatingOfficer February 478 478 2.88 25 February 482 482 2.85 15 January 31 490 490 3.06 January 15 437 437 2.86(1) These shares are the matching shares purchased by the Company, whichshall vest to the shareholder twelve months from the date of purchase, providedthe shareholder is still an employee of the Company.
As previously announced, under the ESSP, employees may use up to 10% of theirsalary (matched equally by the Company) to purchase Bankers Petroleum shares onthe Toronto Stock Exchange, on each pay period (mid-month and month-end). AbbyBadwi, Douglas Urch and Suneel Gupta elected to participate in the plan, with aparticipation level of 10% of each of their respective salaries.
Following the appointment of David French as President and CEO, effective April1, 2013, David French has elected to participate in the plan with aparticipation level of 10% of his salary.
It is expected that the next quarterly announcement in respect of purchasesunder the ESSP will be made on or around July 1, 2013.
/For further information: Doug Urch, Executive VP, Finance and Chief FinancialOfficer, Ph: (403) 513-2691, Email: investorrelations@bankerspetroleum.com,Website: www.bankerspetroleum.com; AIM NOMAD: Canaccord Genuity Limited, HenryFitzgerald-O'Connor, +44 0 207 523 8000; AIM BROKER: FirstEnergy Capital LLP,Hugh Sanderson / David van Erp, +44 0 207 448 0200/
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