BANKERS PETROLEUM LIMITED: Implementation of Employee Stock Savings Plan
BANKERS PETROLEUM LIMITED: Implementation of Employee Stock Savings Plan January 16, 2013
Bankers Petroleum Ltd. ("Bankers" or the "Company")
Implementation of Employee Stock Savings Plan
The Company announces that it has implemented an Employee Stock Savings Plan ("ESSP"), whereby employees may use a proportion of their salary (matched equally by the Company) to purchase Bankers Petroleum shares on the Toronto Stock Exchange, on each pay period (mid-month and month-end).
The purpose of this plan is to further align the interests of employees of the Company with generating shareholder value. Participation in the plan is voluntary. The ESSP will be independently managed.
An employee can change or cancel their contribution level under the ESSP twice per calendar year through notification to the Company by the 5th day of January and July of each calendar year. Applicable Employees (as defined by the AIM Rules for Companies) will be prohibited from joining the ESSP and from changing or cancelling their contribution in any Close Period (as defined by the AIM Rules for Companies).
The Company's management team including Abby Badwi (CEO), Douglas Urch (CFO), Suneel Gupta (COO), have elected to participate in the plan.
For further information, contact:
Executive VP, Finance and Chief Financial Officer
Ph: (403) 513-2691
Canaccord Genuity Limited
+44 0 207 523 8000
FirstEnergy Capital LLP
Hugh Sanderson / David van Erp
+44 0 207 448 0200
-0- Jan/16/2013 07:00 GMT