IPC Announces Share Buyback Results and Updated Capital Structure
IPC Reports on Recent Share Buybacks and Updated Capital Structure
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is thrilled to announce a total repurchase of 89,200 IPC common shares over the recent buyback period. This event took place from May 26 to 30.
Executed under IPC’s normal course issuer bid (NCIB) program, initially announced in late 2024, these repurchases represent the company's strategy to enhance shareholder value while adhering to the regulations outlined in applicable markets.
Details of the Share Repurchase Activities
In the period of May 26 to 30, IPC successfully repurchased 60,000 shares on Nasdaq Stockholm, facilitated by Pareto Securities AB. Simultaneously, the company acquired 29,200 common shares on the TSX through ATB Securities Inc. This calculated approach reflects IPC's commitment to efficiently manage its capital structure while returning value to its shareholders.
Following these repurchases, IPC plans to cancel all acquired common shares. In total, 605,560 shares have been cancelled under the NCIB by the end of May. As of May 30, 2025, the total issued and outstanding shares stands at 113,642,559, with 40,000 shares held in treasury by IPC.
Implications of the Normal Course Issuer Bid Program
From December 5, 2024, until May 30, 2025, a notable 6,068,324 shares have been repurchased under the NCIB. The program has the potential to acquire a maximum of 7,465,356 shares over the established twelve-month period, which will conclude on December 4, 2025 unless completed sooner. This comprehensive strategy illustrates IPC's dedication to managing resources wisely and optimizing shareholder returns.
About International Petroleum Corporation
International Petroleum Corporation is a dynamic participant in the oil and gas exploration and production sector, boasting a quality portfolio of assets across various regions, including Canada, Malaysia, and France. IPC's strong foundation supports both organic and inorganic growth opportunities. As part of the reputable Lundin Group of Companies, IPC is firmly established and publicly traded under the ticker symbol "IPCO" on both the Toronto Stock Exchange and Nasdaq Stockholm.
Company Contact Information
For additional inquiries, please 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
What is the purpose of IPC's normal course issuer bid?
The NCIB is aimed at enhancing shareholder value by repurchasing company shares, thereby reducing the number of shares outstanding.
How many shares did IPC repurchase in their recent period?
IPC repurchased a total of 89,200 common shares during the period from May 26 to 30, 2025.
Which exchanges are IPC shares listed on?
IPC shares are listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol "IPCO".
Who managed the repurchase transactions on Nasdaq Stockholm?
The transactions on Nasdaq Stockholm were managed by Pareto Securities AB.
What happens to the repurchased shares?
All repurchased shares will be cancelled to help optimize the capital structure of IPC.
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