Business
Bankers Petroleum announces shareholder approval of proposed arrangement
Bankers Petroleum announces shareholder approval of proposed arrangement Bankers P...
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"\n\n\n\nBankers Petroleum announces shareholder approval of proposed arrangement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nBankers Petroleum announces shareholder approval of proposed arrangement\nCanada NewsWire\nCALGARY, May 31, 2016\n\n\n\nCALGARY, May 31, 2016 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the \"Company\") (TSX: BNK, AIM: BNK) is pleased to announce that it has received the approval of Bankers' shareholders for the proposed plan of arrangement (the \"Arrangement\") with affiliates of Geo-Jade Petroleum Corporation (\"Geo-Jade\"). Pursuant to the Arrangement, Geo-Jade will acquire all the issued and outstanding common shares of Bankers (\"Bankers Shares\") through its affiliates at a cash price of C$2.20 per Bankers Share. The Arrangement was approved by a vote of greater than 97% of the votes cast by Bankers' shareholders present in person or represented by proxy at the special meeting of Bankers' shareholders held today. \n\nCompletion of the Arrangement is subject to the outstanding regulatory approvals pursuant to the Investment Canada Act (Canada) and the Chinese State Administration of Foreign Exchange (SAFE). Bankers has been advised that Industry Canada has extended the period for review under the Investment Canada Act to June 27, 2016.  Due to this extension, the Company now anticipates closing of the Arrangement to occur in late June or early July.  Following a successful completion of the Arrangement the Bankers Shares will be delisted from the Toronto Stock Exchange (\"TSX\") and the AIM market of the London Stock Exchange.\n\nThe management information circular of Bankers dated April 19, 2016 (the \"Management Information Circular\") prepared in connection with the Arrangement provides important information about Bankers and the Arrangement.  The Management Information Circular is available on SEDAR and Bankers' website (www.bankerspetroleum.com).\n\n------------\n\nAbout Bankers Petroleum Ltd.\n\nBankers Petroleum Ltd. is a Canadian-based oil and gas explorati...