Market Impact: Neutral. The pending acquisition by Geo-Jade at a price of C$2.20 per share outweighs 2Q16 results. The acquisition is expected to close by September 30, 2016 and only remains subject to regulatory approval of the Chinese State Administration of Foreign Exchange (SAFE). If SAFE approval is not received by September 30, 2016, Bankers is entitled to the US$20 mm (equivalent to C$0.10 per share) reverse termination fee, should Bankers elect to terminate the agreement.
