International Petroleum Corporation's Share Repurchase Program Results
International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) is excited to report the recent outcomes of its share repurchase initiative, which took place from February 17 to February 21, resulting in a total of 218,956 common shares repurchased under the normal course issuer bid (NCIB).
The announcement about IPC’s NCIB was made in December, marking a strategic move to enhance shareholder value. This initiative complies with the Market Abuse Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052, along with all relevant regulations from the Toronto Stock Exchange and Nasdaq Stockholm.
Details of Share Repurchases Conducted
During the active repurchase phase, IPC successfully bought back 172,000 shares on Nasdaq Stockholm, with transactions managed by Pareto Securities AB on behalf of IPC. Alongside this, an additional 46,956 shares were acquired on the Toronto Stock Exchange, with ATB Securities Inc. handling those operations.
Cancellation of Repurchased Shares
All common shares acquired through this initiative will be canceled, streamlining the total shares available in the market. As of February 21, 2025, the total issued and outstanding shares stood at 117,781,927, with IPC retaining 1,041,233 shares in treasury, which will contribute to maintaining a strong market presence.
Impacts of the NCIB on Shareholders
Since the initiation of this share buyback program on December 5, 2024, IPC has repurchased a total of 3,142,007 shares, with the authority to buy back 7,465,356 shares over the twelve months concluding December 4, 2025. This program underscores IPC's commitment to returning capital to its shareholders, reflecting its sound management strategies and confident outlook in the oil and gas sector.
About International Petroleum Corporation
International Petroleum Corporation specializes in the exploration and production of oil and gas, boasting a high-quality portfolio of assets across various regions including Canada, Malaysia, and France. IPC is part of the Lundin Group of Companies and is incorporated in Canada, with shares traded on both the Toronto Stock Exchange and the Nasdaq Stockholm under the ticker symbol "IPCO".
Contact Information
If you have any inquiries regarding this announcement, please reach out to:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Phone: +41 22 595 10 50
Or
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Phone: +46 701 11 26 15
Frequently Asked Questions
What is the purpose of IPC's share repurchase program?
The share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.
How many shares did IPC repurchase during the recent buyback?
IPC repurchased a total of 218,956 shares from February 17 to 21, 2025.
Who managed the share repurchases on Nasdaq Stockholm?
Pareto Securities AB managed the repurchase transactions on Nasdaq Stockholm.
What is the total number of shares IPC can repurchase?
IPC can repurchase up to 7,465,356 shares from December 5, 2024, to December 4, 2025.
Where can I find more information about IPC's financial performance?
More information on IPC's financial performance can be found on their corporate website or through their annual reports.
