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Bankers Petroleum files information circular in connection with special meeting of shareholders to consider acquisition by Geo-Jade
Bankers Petroleum files information circular in connection with special meeting of shareho...
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[{"type":"text","content":"\n\n\n\nBankers Petroleum files information circular in connection with special meeting of shareholders to consider acquisition by Geo-Jade\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 files information circular in connection with special meeting of shareholders to consider acquisition by Geo-Jade\nCanada NewsWire\nCALGARY, April 20, 2016\n\n\n\nCALGARY, April 20, 2016 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the \"Company\") (TSX: BNK, AIM: BNK) is pleased to announce that it has filed its Management Information Circular (the \"Circular\") and related proxy materials on SEDAR and its website (www.bankerspetroleum.com), in advance of the Company's special meeting of shareholders to be held on May 31, 2016 (the \"Special Meeting\"). The purpose of the Special Meeting is to seek approval of the proposed plan of arrangement (the \"Arrangement\") with affiliates of Geo-Jade Petroleum Corporation (\"Geo-Jade\").\n\nAs previously announced on March 20, 2016, Bankers has entered into a definitive agreement (the \"Arrangement Agreement\") with affiliates of Geo-Jade for the purchase of all the issued and outstanding common shares of Bankers (\"Bankers Shares\") at a cash price of C$2.20 per Bankers Share. If approved at the Special Meeting, closing of the Arrangement remains on track to occur in late June 2016, following which, the Bankers Shares will be delisted from the Toronto Stock Exchange (\"TSX\") and the AIM market of the London Stock Exchange.\n\nBankers' shareholders of record on April 19, 2016 will receive notice of and be entitled to vote at the Special Meeting. The Arrangement must be approved by the holders of not less than 66⅔% of the Bankers Shares present in person or represented by proxy at the Special Meeting. Shareholders are encouraged to read the Circular as it provides important information about Bankers and the Arrangement.\n\nBenefits of the Arrangement include:\n\n\nCash price of C$2.20 per Bankers Share \nBankers debt will be handled separately by the purchasing Company and will no...