CA - Imperial Oil announces preliminary results of substantial issuer bid

• Imperial Oil ( NYSE: IMO ) has announced preliminary results of its substantial issuer bid.
• Under the bid, the company offered to purchase for cancellation up to C$1.5B of its common shares by way of a modified Dutch auction. The tender price was set between C$72.50-C$87.00 per share.
• Based on preliminary calculation, Imperial expects to take up and pay for 20,689,655 shares at a price of $72.50/share under the offer, representing ~3.4% of the total number of Imperial's ( IMO ) issued and outstanding shares as of the close of business on October 31, 2022.
• Immediately following completion of the offer, Imperial ( IMO ) anticipates that 584,152,718 shares will be issued and outstanding.

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