What is a tender offer?
A tender offer allows existing shareholders to tender or sell their shares at a specified price determined by the company. Current shareholders will receive a notice via mail or email with the terms of the offer and the expiration date for instruction. IMO shareholders have received a tender offer.
You can either let the tender offer expire, or request to opt into the tender offer.
Let Offer Expire
To let your tender offer expire, no further action is needed by you.
Tender My Shares
Here is the information available for the IMO offering:
IMPERIAL OIL LIMITED OFFERS TO PURCHASE A NUMBER OF COMMON SHARES OF THE COMPANY FOR AN AGGREGATE PURCHASE PRICE NOT EXCEEDING C$1,500,000,000. THE PURCHASE PRICE OF ANY SHARE TAKEN UP BY THE COMPANY WILL NOT BE LESS THAN C$78.50 AND NOT MORE THAN C$94.00 PER SHARE. THE OFFER BY THE COMPANY IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THE OFFER TO PURCHASE AND THE ACCOMPANYING ISSUER BID CIRCULAR.
*THE OFFER IS SUBJECT TO PRORATION.
THE COMPANY IS CONDUCTING THE OFFER THROUGH A "DUTCH AUCTION" PROCEDURE.
Customers have two options:
OPTION 01: Choose a specific price at which you're willing to tender shares between C$78.50 and C$94.00 per share in increments of C$0.25 per share.
OPTION 02: Tender your shares at an unspecified price.
Please note the following:
- Customers with 99 shares or fewer who tender their entire position will receive odd lot preference (exempt from proration)
- Customers choosing option 1 will need to specify a price in *Canadian* dollars. Please note that the final CAD/USD exchange rate is currently TBA and will be decided by the issuer and transfer agent, not M1.
If you would like to proceed and tender your shares, please contact us and let us know which option you would like to proceed with. From there, we will be able to assist you in your request.
Requests made 1-2 business days before the expiration date of 12/08/23 are processed on a best-efforts basis.
Please note that there is a $50 fee per account in which the shares are tendered if the value of the tendered shares is $100 or greater.