Imperial Seeks Okay to Continue Share Repurchase
Imperial Oil Limited on Wednesday said that it will seek acceptance from the Toronto Stock Exchange to continue its existing share repurchase program facility that will expire on June 22, 2007.
Under the program Imperial would be able to purchase up to five percent of its issued and outstanding shares on the date of acceptance by the Toronto Stock Exchange during the 12 months after purchases begin. That total will be reduced by the number of shares purchased for the company's employee savings plan and employee retirement plan. Imperial retains flexibility regarding when and how many shares are purchased. Imperial currently has approximately 934 million shares outstanding. Acceptance is expected on June 21, 2007.
ExxonMobil Corporation has advised Imperial that it will participate in the new program, as it has in the existing one, to maintain its ownership percentage in Imperial at 69.6 percent. ExxonMobil said it will review its participation from time to time and inform Imperial of any change in its intentions.
Operates 16 Offshore Rigs
- Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
- ExxonMobil to Lead Construction, Ops of Mozambique LNG Facilities (Dec 13)
- ExxonMobil Jumping in to Mexico Fuel Market With First US Cargo (Dec 06)
Company: Imperial Oil more info
- Canada's Imperial Oil Posts Unexpected 2Q Loss (Jul 28)
- Imperial Oil Profit Boosted By Asset-Sale Gain (Jan 31)
- Bulk of Canada's Oil Sands Plants Seen Up in Days to Weeks (May 11)