Overview of Share Repurchase Program
International Petroleum Corporation (IPC) is excited to share that it has successfully repurchased a total of 352,360 common shares through its normal course issuer bid (NCIB) program, executed from March 3 to March 7. This significant initiative reflects IPC's ongoing commitment to enhancing shareholder value.
Details of the Recent Transactions
During the specified time frame, IPC performed a notable repurchase of 275,500 common shares on the Nasdaq Stockholm exchange. These buybacks were facilitated by Pareto Securities AB on behalf of IPC, showcasing the strategic maneuvers underpinning the company's approach to share management.
Canadian Market Activity
In conjunction with the activity on Nasdaq Stockholm, IPC also repurchased 76,860 common shares on the Toronto Stock Exchange (TSX). ATB Securities Inc. conducted these transactions, highlighting IPC's proactive engagement with both markets.
Cancellation of Repurchased Shares
All shares repurchased by IPC under the NCIB are set for cancellation. Recently, IPC also cancelled an additional 15,452 common shares acquired through the program in February. As of March 7, the total count of outstanding IPC common shares stands at 116,409,568, with 447,360 shares presently held as treasury stocks.
Future Repurchase Potential
Since the inception of the NCIB on December 5, a total of 3,708,675 IPC common shares have been bought back up until March 7. IPC can repurchase up to 7,465,356 shares within a twelve-month period that concludes on December 4, 2025, or earlier should the program be completed or terminated ahead of schedule.
What Drives IPC's Growth?
IPC is not just focused on share buybacks; it is also an influential player in the international oil and gas exploration and production sectors. The company boasts a diverse portfolio of high-quality assets located in markets including Canada, Malaysia, and France, which uniquely positions IPC for both organic and inorganic growth opportunities.
Company Contact Information
If you wish to learn more about IPC's operations or engage with its leadership, you can reach out to the following contacts:
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 NCIB program?
The Normal Course Issuer Bid (NCIB) program allows IPC to repurchase its shares to enhance shareholder value and reduce the number of outstanding shares.
How many shares has IPC repurchased?
IPC has repurchased a total of 3,708,675 common shares under the NCIB program from its start date up to March 7.
Who manages the share repurchase transactions on Nasdaq Stockholm?
Pareto Securities AB is responsible for managing the share repurchase transactions on behalf of IPC on the Nasdaq Stockholm exchange.
What is the total number of outstanding shares after the recent repurchases?
As of March 7, the total number of issued and outstanding IPC common shares is 116,409,568.
What markets does IPC operate in?
IPC operates primarily in Canada, Malaysia, and France, focusing on oil and gas exploration and production.
