CALGARY, Aug. 29, 2014 /CNW/ - ArPetrol Ltd. ("ArPetrol" or the "Company") (TSXV: RPT) is pleased to provide the voting results from its annual and special meeting of shareholders held on August 27, 2014. Shareholders approved the following proposals: (1) the election Abdel Badwi, Jeffrey Boyce, Claudio Ghersinich, Jason James and Timothy Thomas as the directors of the Corporation; (2) the appointment of Deloitte LLP as the auditors of the Corporation; and (3) the annual approval of the Company's stock option plan as required under TSX Venture Exchange ("TSXV") policies.
The Company also wishes to announce that today it granted options to purchase an aggregate of 856,000 common shares to certain directors, officers and employees of the Company pursuant to the Company's approved stock option plan. The options are exercisable at a price of $0.60 per common share, will vest in thirds over three years and will expire seven years from today's grant date. No options have been granted by the Company since 2012, and this grant of options is intended to assist in retaining and rewarding officers, directors and employees of the Company and provide an at-risk, long-term incentive that aligns with shareholders' interests to increase value.
The Company also wishes to advise that its new corporate presentation has been posted on the Company's corporate website and is available at www.arpetrol.com.
About ArPetrol Ltd.
The Company is a Calgary based public company currently engaged in oil and gas exploration,
development and production and third-party natural gas processing in Argentina where it also owns and operates a gas processing facility with capacity of 85 million cubic feet (MMcf) per day. The Company's common shares are listed on the TSXV under the symbol "RPT".
Additional information relating to the Company is also available on SEDAR at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: ArPetrol Ltd.
For further information: Ian Habke, President and Chief Financial Officer, [email protected]; ArPetrol Ltd., Main Phone: (403) 263-6738