Imperial announces terms of its substantial issuer bid for up to $1,500,000,000 and receipt of exemptive relief

Nov 01, 2022

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the terms of its substantial issuer bid (the “Offer”) pursuant to which the company will offer to purchase for cancellation up to $1,500,000,000 of its common shares (the “Shares”). Subject to obtaining certain exemptive relief under applicable securities laws in the United States, the Offer will proceed by way of a modified Dutch auction that includes the ability for shareholders to participate via a proportionate tender. The modified Dutch auction procedure will have a tender price range from $72.50 per Share to $87.00 per Share. All amounts are in Canadian dollars.

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