International Petroleum Corporation's Successful Share Repurchase
International Petroleum Corporation Announces Recent Share Buyback
TORONTO — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) has made significant strides in its normal course issuer bid (NCIB) program. Recently, IPC successfully repurchased a total of 134,300 of its common shares during the week of May 19 to 23, reaffirming its commitment to returning value to shareholders.
Implementation of the Normal Course Issuer Bid
The NCIB, which was first announced in December, is operating under strict compliance with the Market Abuse Regulation and applicable regulations from the Toronto Stock Exchange and Nasdaq Stockholm. The ongoing share buyback initiative reflects IPC's proactive approach to managing capital and optimizing shareholder value.
Transaction Breakdown on Nasdaq Stockholm
Out of the shares repurchased in the recent activity, 100,000 were acquired through transactions on Nasdaq Stockholm. All purchases were executed with the assistance of Pareto Securities AB, a testament to IPC's diligent efforts in following through with its share repurchase strategy.
Activity on the Toronto Stock Exchange
Additionally, IPC undertook the buyback of 34,300 common shares on the Toronto Stock Exchange during the same period. AtB Securities Inc. facilitated these transactions on behalf of the corporation, further illustrating IPC's robust market presence and operational capabilities.
Impact on Equity Structure
All common shares acquired through the NCIB will undergo cancellation, which will ultimately affect the total number of outstanding shares. As of the close of trading on May 23, 2025, the total issued and outstanding IPC common shares stand at 114,248,119, with IPC maintaining an estimated 556,360 shares in treasury.
Long-Term Plans for Share Repurchases
Since the commencement of the NCIB back in December 2024, IPC has successfully repurchased 5,979,124 common shares across both stock exchanges, with an authorized limit of up to 7,465,356 shares for the twelve-month period. This strategic move aims to enhance shareholder value through efficient capital management.
About International Petroleum Corporation
International Petroleum Corporation is recognized as a leading player in the oil and gas landscape, focusing primarily on exploration and production. With a diverse portfolio encompassing assets in various countries, including Canada, Malaysia, and France, IPC is well-positioned to pursue both organic and inorganic growth strategies. As a key member of the Lundin Group, IPC is incorporated in Canada and listed under the symbol "IPCO" on both the Toronto Stock Exchange and Nasdaq Stockholm.
Investor Relations Contact
For those seeking further information, IPC's investor relations are available through:
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
What is the purpose of the normal course issuer bid (NCIB)?
The NCIB allows IPC to repurchase its own shares, thereby enhancing shareholder value and managing its capital structure more effectively.
How many shares has IPC repurchased under the NCIB?
Since its implementation, IPC has repurchased a total of 5,979,124 shares under the NCIB as of May 23, 2025.
Who manages the share repurchase transactions for IPC?
Transactions on Nasdaq Stockholm are managed by Pareto Securities AB, while ATB Securities Inc. handles share repurchases on the Toronto Stock Exchange.
Will the repurchased shares remain in circulation?
No, all shares repurchased under the NCIB will be canceled and will not be reissued.
What are IPC's future plans regarding share repurchases?
IPC has the authorization to repurchase up to 7,465,356 shares over a period ending December 4, 2025, providing flexibility for future capital management.
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