IPC Completes Share Repurchase Program with Recent Results

International Petroleum Corporation Enhances Shareholder Value
International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) has successfully completed a share buyback program, repurchasing a remarkable total of 98,176 IPC common shares during the noted period.
Understanding IPC's Share Repurchase Program
The Corporation's Normal Course Issuer Bid (NCIB), launched to manage its capital structure efficiently, was initiated as part of a broader strategy to return value to shareholders. As previously announced, this program follows all statutory guidelines set forth by applicable regulations and exchange policies.
Repurchase Transactions Overview
During the specified time frame, IPC repurchased 74,376 common shares on Nasdaq Stockholm, with all transactions executed through Pareto Securities AB as the managing agent. Concurrently, an additional 23,800 shares were bought back through the Toronto Stock Exchange (TSX) under the direction of ATB Securities Inc.
Share Cancellation Process
Each repurchased share will be canceled, indicating a deliberate effort by IPC to reduce its outstanding share count and enhance shareholder value. As of the reporting date, following the cancellation of previously acquired shares under different exemptions, there remain 112,780,502 shares with voting rights, while IPC retains 423,757 shares in treasury.
Future Prospects of Share Repurchases
IPC's commitment to its NCIB continues, with a total of 7,264,138 shares repurchased since the program's inception. For the ongoing term, the target is to acquire up to 7,465,356 shares, allowing for flexibility in response to market conditions.
IPC's Positioned Growth
IPC is recognized for its strong portfolio in international oil and gas exploration and production, which forms a robust foundation for future growth. The company holds assets across various regions including Canada, Malaysia, and France, thus broadening its reach and opportunities for expansion.
Connecting with IPC
For inquiries, shareholders and interested parties can 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 significance of IPC's NCIB?
The NCIB allows IPC to repurchase its shares, which can lead to increased shareholder value through reduced share count and improved earnings per share.
How many shares has IPC repurchased to date?
IPC has repurchased a total of 7,264,138 shares since the beginning of the NCIB program.
What will happen to the repurchased shares?
All repurchased shares under the NCIB will be canceled, further reducing the total number of shares outstanding.
Who manages the share repurchase transactions?
The transactions on Nasdaq Stockholm are managed by Pareto Securities AB, while the TSX transactions are executed through ATB Securities Inc.
What is IPC's strategy for future growth?
IPC aims to expand its portfolio through both organic growth and strategic acquisitions, while efficiently managing its capital structure.
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