Big Banc Split Corp T.BNK

net 1.75$/share

[eddy014]

2.2 per share  before the assumption of the outstanding indebtedness

''CALGARY, March 20, 2016 /PRNewswire/ - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK, AIM: BNK) is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with 1958082 Alberta Ltd. (the "Purchaser") and Charter Power Investment Limited ("Charter Power") 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. The Purchaser and Charter Power are affiliates of Geo-Jade Petroleum Corporation ("Geo-Jade"), one of the largest independent oil and gas exploration and production companies in China. The transaction will be effected by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). The Arrangement values Bankers at approximately C$575 million before the assumption of the outstanding indebtedness of Bankers.''

[ImFineThanks]

Please elaborate on how you came to that net amount per share?

[monty15]

That might be it....if the debt is 91.5m (.35 x 261,557,384os) Can't find it in the financials ? I'll look further !!!!

[wallop13]

Absolutely not! The deal is $2.20 plus they assume the debt. You get $2.20 a share. Don't worry about debt.

[cashtango00]

my god you guys are stupid. really, you shouldn't invest with real money. the bid is 2.20 cash for the company. that includes it cash/debt everything.  there is no " net out" shareholders get 2.20 on close.

[bmeister2]

Can't be much clearer than what you have written,Cash, I can't believe some of the concerns people have asked. My only tick-off,bigtime, is the lowball offer and acceptance. I wonder if Abby would have succumbed so easily or it is ,as I suspect, bankers were getting so fed up dealing with those corrupt knuckle-heads in Albania, ( don't forget even the Russians left) that they figured

[monty15]

STUPID ??? That's a little harsh ......cashtango !  I'll join the lawsuit if we don't get the 2.20. Was just trying to make sense of getting filled today @ 1.66. Seems to good to be true. Do you have any thoughts on how this could happen ???? I've never seen this before. I'm happy...just a little skeptical !!!!

[Gcreamy]

I get that your just trying to understand exactly what is going on so don’t worry about that. There will be no lawsuit if the deal goes through; the shareholders will get paid $2.20 per share.  The $1.75 net could just be referring to Geo-Jade's total cost per share net of debt but they are paying $575 mill ($2.20/share) for the entire business, debt included. Why is it trading at

[feetup]

First , Thanks for everyone's opinions! Is there any short covering happening? Thinking they would've been caught off guard. Thoughts please! thanks again

[MohanLal]

To all noobs or fools, whatever you want to call it ... $2.20/sh. is only for buying all shares of BNK. Debt is excluded !! Even the freakin news release over the weekend & confirmation by Investor Relations (posted by few people) affirms that.  Read the NR carefully.  The $2.20/sh is in Candian dollars.   will be interesting to see how BNK trades over this week.  The

[Gcreamy]

MohanLal, don’t be so arrogant if you are too ignorant to understand the agreement.  Yes, every shareholder gets $2.20/ share if the deal closes. However, Geo-Jade is buying all of Bankers, INCLUDING DEBT. That doesn’t change the $2.20 cash offer per share. The news release stated "The Arrangement values Bankers at approximately C$575 million before the assumption of

[waitingstill]

Lol. Gcreamy, I think that is what Mohanlal was saying although the way he wrote it was confusing. The only reason I could figure it out was because he referenced the IR email that someone posted which clearly states what you have stated. Regards.

[MohanLal]

LMFA)) - creamy buddy chillax.  It wasn't aimed at you.  I was trying to  explain this simple deal to new investors who don't read NR properly. I ain't got tiny brain bud, no does everybody is smart in this amazing world.   The deal is valued at $2.20/sh for all outstading 262 MM shares.  I know the match buddy.  Sorry again, my post wasn't aimed at

[Gcreamy]

All good, I thought you were disagreeing. Sorry but I get a bit heated at times because lots of new investors coming on here looking for information to help with their investment decisions. If they listen to some of the ignorant morons posting inaccurate info on here then they could lose a buuunch of money.