International Petroleum Corporation Shares Repurchase Outcomes
International Petroleum Corporation's Recent Share Repurchase Activities
International Petroleum Corporation (IPC) has successfully undertaken a notable share repurchase initiative. This move is indicative of IPC’s commitment to enhancing shareholder value through strategic financial management. Amid the evolving landscape of the oil and gas market, IPC executed the purchase of 313,864 common shares under its normal course issuer bid (NCIB) program.
Overview of the Share Repurchase Program
Announced on December 3, 2024, IPC's NCIB program aligns with regulations from both the Canadian and Swedish securities markets, indicating a prioritization of compliance and transparency. The recent share repurchases, executed from January 1 to 10, 2025, involved acquiring 206,000 common shares through Nasdaq Stockholm, facilitated by Pareto Securities AB. Additionally, IPC acquired 107,864 shares on the Toronto Stock Exchange (TSX), with ATB Securities Inc. managing those transactions.
Impact on Share Structure
Each share repurchased under the NCIB is set to be canceled, reflecting IPC's focus on maintaining an efficient capital structure. As of January 10, 2025, the total number of IPC common shares outstanding stands at 119,169,471, alongside 424,020 shares retained in the treasury. This strategic buyback is part of a larger plan where IPC has the capacity to repurchase up to 7,465,356 shares over the coming twelve months.
Strategic Goals and Future Outlook
IPC's repurchase program is not merely a financial maneuver; it embodies a broader strategy aimed at robust organizational growth. IPC operates in diverse regions, including Canada, Malaysia, and France, leveraging these assets for organic and inorganic growth opportunities. As a member of the Lundin Group of Companies, IPC is well-positioned in the market, with the ability to adapt and respond to shifts in the energy sector.
Community and Investor Relations
Effective communication with stakeholders is critical for IPC. The company maintains its commitment to providing transparent updates concerning its operations and financial activities. Investors and the community can access detailed information about the transactions conducted under the NCIB via IPC’s official channels.
Contact Information
For more information regarding IPC and its share repurchase activities, interested parties are encouraged to reach out to:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Tel: +41 22 595 10 50
Or
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Tel: +46 701 11 26 15
Frequently Asked Questions
1. What is the purpose of IPC's share repurchase program?
The share repurchase program aims to enhance shareholder value and optimize capital structure.
2. How many shares has IPC repurchased in total?
As of the last report, IPC has repurchased a total of 1,137,250 shares under the NCIB.
3. What exchanges facilitate IPC's share repurchases?
IPC conducts its share repurchases on both the Toronto Stock Exchange (TSX) and Nasdaq Stockholm.
4. Are the repurchased shares canceled?
Yes, all repurchased shares under the NCIB will be canceled to improve the company's capital efficiency.
5. Who can I contact for more information about IPC?
You can reach Rebecca Gordon or Robert Eriksson for inquiries regarding IPC and its operations.
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