International Petroleum Corporation's Share Repurchase Update
International Petroleum Corporation (IPC) has made a significant announcement regarding its recent share repurchase program. Between May 1 and May 9, IPC successfully repurchased a total of 275,160 IPC common shares under its normal course issuer bid (NCIB).
Details on the Share Repurchase Program
The NCIB, which was initiated in December 2024, complies with both Canadian and Swedish securities regulations. During the share repurchase period, IPC acquired 180,000 shares on Nasdaq Stockholm, facilitated by Pareto Securities AB. This strategic move is aimed at providing value to shareholders by reducing the number of outstanding shares.
Repurchases on the TSX
In addition to the shares purchased on Nasdaq Stockholm, IPC bought 95,160 common shares on the Toronto Stock Exchange (TSX), executed by ATB Securities Inc. This approach underscores IPC's commitment to fostering shareholder confidence and enhancing overall stock performance.
Impact of Share Repurchases on Shareholder Value
All shares that have been repurchased by IPC will be cancelled. As of May 9, 2025, the adjusted number of outstanding IPC common shares stands at 114,248,119. By cancelling the repurchased shares, IPC is taking proactive steps to improve its equity structure and return value to its investors.
Looking Ahead
Since the program's launch, a total of 5,697,924 IPC common shares have been repurchased through the facilities of the TSX and Nasdaq Stockholm. The NCIB allows IPC to repurchase up to 7,465,356 shares within a twelve-month timeline, extending the opportunity for ongoing value creation for its shareholders.
Understanding IPC's Business Model
International Petroleum Corp. is notable for its robust portfolio in oil and gas exploration and production, with significant operations in Canada and overseas. As a member of the Lundin Group of Companies, IPC is well-positioned for future growth, both organically and through potential acquisitions.
Commitment to Operational Excellence
IPC’s ongoing success is supported by its solid asset base, which serves as a foundation for sustainable development and investment strategies. This commitment to operational excellence is reflected in the company's active measures to engage with its investors and respond promptly to market conditions.
Contact Information
For any inquiries regarding IPC’s activities, shareholders can reach out to the corporate planning and investor relations team:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Phone: +41 22 595 10 50
Alternatively, for media inquiries:
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Phone: +46 701 11 26 15
Frequently Asked Questions
What is the Normal Course Issuer Bid (NCIB) program?
The NCIB allows IPC to repurchase its own shares to optimize capital structure and return value to shareholders.
How many shares were repurchased during the latest period?
IPC repurchased a total of 275,160 common shares from May 1 to May 9, 2025.
Who executed the share repurchases on the TSX and Nasdaq?
ATB Securities Inc. managed the repurchases on the TSX, while Pareto Securities AB handled the transactions on Nasdaq Stockholm.
What happens to the shares repurchased under the NCIB?
All repurchased shares will be cancelled, effectively reducing the total number of outstanding shares.
Why is IPC conducting a share repurchase program?
The share repurchase program is part of IPC’s strategy to enhance shareholder value and demonstrate confidence in its future growth prospects.
