The Toronto Stock Exchange reports that Imperial Oil Ltd. has made an offer dated Nov. 3, 2023, to purchase up to 19,108,280 of its shares at a purchase price of not less than $78.50 and not more than $94 per share. The offer will expire at 5 p.m. Calgary time on Dec. 8, 2023, unless it is extended or withdrawn.

According to the TSX, the company will select the lowest purchase price per share between $78.50 and $94 that will enable it to purchase the maximum number of shares validly deposited pursuant to the offer and not withdrawn, determined in accordance with the process described in the offer to purchase, and having an aggregate purchase price not exceeding $1.5-billion. Trades on Dec. 8, 2023, will settle on Dec. 11, 2023.

To tender to the offer, shareholders must return the letter of transmittal together with share certificates to Computershare Investor Services Inc. at its principal offices in Toronto or follow the procedures for book entry transfer as set out in the offer to purchase. The notice of guaranteed delivery must be completed and received by the depositary prior to the expiration time. The letter of transmittal along with the shares pertaining to the notice of guaranteed delivery must be received by the depositary before 5 p.m. Calgary time on the second trading day on the TSX after the expiration time.