January 6, 2014
AIM: BNK
Bankers Petroleum Ltd. ("Bankers Petroleum" or the "Company")
Employee Stock Savings Plan Quarterly 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 quarter ending 31 December 2013, the following
purchases were made by senior employees:
Name Date of Number of Employer's Purchase Resulting Resulting
Purchase Common Price Number of Holding as
Shares Contribution (Cdn. $) Common at 31
Purchased (1) Shares December
held as at 2013 as %
31 total
December voting
2013 rights
David French, October 15 518 518 4.02 91,611 0.0%
President and
Chief October 31 524 524 3.98
Executive
Officer November 15 543 543 3.83
November 29 520 520 4.01
December 13 490 490 4.25
December 31 478 478 4.36
Douglas C. October 15 342 342 4.02 755,700 0.3%
Urch -
Executive Vice October 31 346 346 3.98
President,
Finance and November 15 359 359 3.83
Chief
Financial November 29 343 343 4.01
Officer
December 13 323 323 4.25
December 31 315 315 4.36
Suneel Gupta - October 15 342 342 4.02 339,589 0.1%
Executive Vice
President and October 31 346 346 3.98
Chief
Operating November 15 359 359 3.83
Officer
November 29 343 343 4.01
December 13 323 323 4.25
December 31 315 315 4.36
(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 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).
Douglas Urch, Suneel Gupta and David French (following his appointment
effective April 1, 2013) elected to participate in the plan, with a
participation level of 10% of each of their respective salaries.
Abby Badwi, following retirement from his role as President and Chief Executive
Officer, effective April 1, 2013, is no longer participating in the ESSP. As
such, there were no purchases made by, or on behalf of, Abby Badwi, in the
quarter ended 31 December 2013 and there will be no such purchases going
forward.
It is expected that the next quarterly announcement in respect of purchases
under the ESSP will be made on or around April 1, 2014.
For further information, contact:
Doug Urch
Executive VP, Finance and Chief Financial Officer
Ph: (403) 513-2691
Email: investorrelations@bankerspetroleum.com
Website: www.bankerspetroleum.com
AIM NOMAD:
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor
+44 0 207 523 8000
AIM BROKER:
FirstEnergy Capital LLP
Hugh Sanderson / David van Erp
+44 0 207 448 0200
(BNK., BNK)