08:59 AM EDT, 06/23/2025 (MT Newswires) -- Imperial Oil Limited ( IMO ) was at last look up 0.85% in US premarket trade on Monday after saying it received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to five percent of its roughly 509 million-plus outstanding common shares as of June 15, or a maximum of around 25.45 million shares during the next 12 months.

This maximum will be reduced by the number of shares purchased from ExxonMobil, Imperial's majority shareholder, a statement said.

Monday's statement noted the new one-year program will begin on June 29, and will end should the company purchase the maximum allowable number of shares, or on June 28, 2026.

Imperial has established an automatic share purchase plan with its designated broker to facilitate the purchase of common shares, both from public shareholders and from ExxonMobil.

"ExxonMobil will be permitted to sell its shares to Imperial under the NCIB in order to maintain its proportionate share ownership at approximately 69.6%," said the company.