Imperial Oil will seek acceptance to continue its existing share repurchase program
27 Maio 2004 - 4:02PM
PR Newswire (US)
Imperial Oil will seek acceptance to continue its existing share
repurchase program TORONTO, May 27 /PRNewswire-FirstCall/ --
Imperial Oil today announced that it will seek acceptance from the
Toronto Stock Exchange to continue its existing share repurchase
program facility that will expire on June 22, 2004. 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 358.5 million
shares outstanding. Acceptance is expected on June 21, 2004. Exxon
Mobil 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. DATASOURCE: Imperial Oil
Limited CONTACT: Investor Relations, Jean Cote, (416) 968-4262;
Media Relations, Richard O'Farrell, (416) 968-4875
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