Re: News Releases - Monday, June 30, 2008
Title: Bankers Reports Outcome of Annual and Special Meeting of Shareholders
CALGARY, June 30, 2008 -- Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is pleased to announce that shareholders approved all of the motions described in the management information circular dated May 27, 2008 at the Annual General and Special Meeting held June 27, 2008. In addition to electing the proposed slate of directors for the ensuing year, Bankers' shareholders approved: (a)the continuation of Bankers' Stock Option Plan and the unallocated entitlements there under; (b) the plan of arrangement pursuant to which Bankers will spin off its U.S. operations and assets as a new public company called BNK Petroleum Inc. (the "Plan of Arrangement"); and (c) the subsequent consolidation of Bankers' shares on a one (1) new post-consolidation Bankers Share for every three (3) pre-consolidation Bankers Shares (the "Post-Arrangement Share Consolidation").
With respect to the Plan of Arrangement and the Post-Arrangement Share Consolidation, over 99.9% of shareholders voted in favour of all voting shareholders. The record date for the Plan of Arrangement is yet to be determined and will be announced shortly.
A complete summary of the voting results is available at www.sedar.com.
About Bankers Petroleum Ltd.
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves. In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oil field and has a 50% interest in the Kucova oil field. It also holds an average 50% interest in the Tishomingo gas field in Oklahoma and varied interests in three other areas in the Northern and Central regions of the United States, where it is currently pursuing the exploration, development and production of shale and tight sand gas plays. Bankers shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.
- 30 -For further information, contact:Abby Badwi Chief Executive Officer
(403) 513-2694
Doug Urch VP, Finance and Chief Financial Officer
(403) 513-2691
Susan J. Soprovich VP, Investor Relations and Corporate Governance
(403) 513-2681
Email:
investorrelations@bankerspetroleum.comWebsite:
www.bankerspetroleum.comAIM NOMAD:Canaccord Adams Limited
Ryan Gaffney/ Henry Fitzgerald-O'Connor
+44 20 7050 6500
AIM JOINT BROKERS:Canaccord Adams Limited
Ryan Gaffney/ Henry Fitzgerald-O'Connor
+44 20 7050 6500
Tristone Capital Ltd.
Nick Morgan
+44 20 7355 5800
Copyright � 2008 BANKERS PETROLEUM LTD. (BNK.H) All rights reserved. For more information visit our website at
http://www.bankerspete.com/ or send email to
info@bankerspetroleum.com ..
Message sent on Sun Jun 29, 2008 at 2:44:00 PM Pacific Time
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Bankers Petroleum Ltd.
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CODE : BNK.TO |
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CUSIP : 38142Q |
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Bankers Petroleum is a oil exploration company based in Canada. Bankers Petroleum produces oil, natural gas in Albania, and holds various exploration projects in Albania. Its main asset in production is PATOS-MARINZA in Albania and its main exploration properties are KUÇOVA and KUCOVA HEAVY OILFIELD in Albania. Bankers Petroleum is listed in Canada, in Germany and in United Kingdom. Its market capitalisation is CA$ 3.2 billions as of today (US$ 2.3 billions, € 2.2 billions). Its stock quote reached its lowest recent point on December 31, 2007 at CA$ 0.35, and its highest recent level on November 15, 2024 at CA$ 12.33. Bankers Petroleum has 261 560 000 shares outstanding. |