International Petroleum Corporation's Renewed Buyback Plan
International Petroleum Corporation (IPC) is excited to share that it has received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB).
Understanding the Normal Course Issuer Bid
The approved NCIB allows IPC to buy back up to 6,468,077 common shares, which accounts for approximately 5.8% of the total shares outstanding. This strategic move not only aims to optimize share capital but also signifies IPC's determination to return value to its shareholders.
Details of the Share Repurchase Program
This buyback program is set to last twelve months, beginning on December 5 and concluding a year later. The TSX has specified that IPC can repurchase shares on the open market, a clear step towards reinforcing its financial standing and commitment to shareholder interests.
Purchase Limitations and Regulations
Specific restrictions are in place regarding the number of shares IPC can purchase on a daily basis. For trades on Nasdaq Stockholm, the limit is set to 25% of the average trading volume over the preceding 20 days. On the TSX, the limit is capped at 24,839 shares per day, enhancing the structure of the buyback program.
Automatic Share Purchase Plan Implementation
IPC has adopted an automatic share purchase plan (ASPP) to facilitate the share buybacks efficiently. This plan enables IPC to continue repurchasing shares, even during regulatory or internal blackout periods, ensuring that the program runs smoothly and consistently.
Rationale Behind the NCIB
The principal goal of the NCIB is to effectively manage IPC's capital structure. By repurchasing shares for cancellation, IPC aims to enhance shareholder value while maintaining a robust financial foundation.
Historical Context of the Buyback Programs
IPC's previous NCIB authorized it to buy back 7,465,356 shares, which was successfully completed by September 30, 2025. This program achieved a significant reduction in share capital, demonstrating IPC's commitment to preserving value for its investors.
About International Petroleum Corporation
International Petroleum Corporation is an international oil and gas exploration and production firm featuring an impressive asset portfolio across several countries. Being part of the Lundin Group, IPC's operations are firmly rooted in Canada, Malaysia, and France, laying the groundwork for growth in both select markets.
Contact IPC for More Information
Individuals seeking more details on IPC's operations or the buyback initiative can reach out directly to:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Phone: +41 22 595 10 50
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Phone: +46 701 11 26 15
Frequently Asked Questions
What is the main purpose of IPC's NCIB?
The primary purpose is to manage IPC's share capital effectively and return value to shareholders by repurchasing shares for cancellation.
How many shares is IPC authorized to buy back under the new NCIB?
IPC is authorized to purchase up to 6,468,077 common shares as part of the renewed normal course issuer bid.
What trading limitations does IPC face during the buyback?
IPC is limited to a maximum of 25% of the average daily trading volume for share purchases on Nasdaq Stockholm and to no more than 24,839 shares daily on the TSX.
How does the ASPP assist IPC in executing the buyback?
The ASPP enables IPC to buy shares even during regulatory restrictions or blackout periods, ensuring the buyback process continues effectively.
Where can investors find more information about IPC?
Investors can find more details about IPC and its initiatives through its website and by contacting the corporate planning and investor relations team.
