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Employee Stock Savings Plan Quarterly Update

5th Jul 2016 07:00

BANKERS PETROLEUM LIMITED - Employee Stock Savings Plan Quarterly Update

PR Newswire

London, July 4

July 5, 2016

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 June 30, 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 30 June 2016	ResultingHolding as at30 June2016 as% totalvoting rights
David French, President and Chief ExecutiveOfficer	April 15	1,236	618	1.82	651	268,730	0.1%
	April 30	1,174	587	1.91	667
	May 15	1,159	580	1.94	755
	May 31	1,089	545	2.06	774
	June 15	1,127	564	1.99	801
	June 30	1,080	540	2.08	784

Douglas C. Urch, Executive Vice President, Finance and Chief Financial Officer	April 15	816	408	1.82	430	1,100,473	0.4%
	April 30	776	388	1.91	440
	May 15	765	383	1.94	499
	May 31	719	360	2.06	511
	June 15	744	372	1.99	529
	June 30	713	357	2.08	517

Suneel Gupta, Executive Vice President and Chief Operating Officer	April 15	815	408	1.82	430	604,667	0.2%
	April 30	776	388	1.91	440
	May 15	765	383	1.94	499
	May 31	719	360	2.06	511
	June 15	744	372	1.99	529
	June 30	713	357	2.08	517

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 of January 1, 2016 the Company’s matching shares were reduced from 100% to 50% of the employees purchase amount These shares are the matching shares purchased by the Company twelve months ago and are now vested to the shareholder.

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.

It is expected that the next quarterly announcement in respect of purchases under the ESSP will be made in October, or sooner, if required.

For further information, contact:Doug UrchExecutive VP, Finance and Chief Financial OfficerPh: (403) 513-2691Email: [email protected]Website: 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

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