IPC Makes Significant Share Repurchases Under Issuer Bid Program
IPC's Recent Share Repurchase Activities
International Petroleum Corporation (IPCO) is excited to share substantial developments regarding its normal course issuer bid (NCIB) program.
During a brief period spanning April 1 to 4, IPCO repurchased a notable total of 206,940 IPC common shares. This action underscores the Corporation’s commitment to enhancing shareholder value and is part of IPCO's strategic initiative to manage its capital efficiently.
Details of the Share Repurchase Program
Initially announced on December 3, the NCIB is designed to repurchase shares from the market, demonstrating IPCO's robust financial standing and operational strategy. This initiative adheres to established regulations, ensuring compliance with market rules of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm.
Specifically, during the mentioned period, IPCO executed purchases of 151,732 shares on Nasdaq Stockholm through Pareto Securities AB. Additionally, IPC acquired 55,208 shares on the TSX via ATB Securities Inc. Each of these transactions serves to boost shareholder returns by reducing the outstanding share count.
Issuer Bid Compliance
All shares repurchased are set to be cancelled, bringing the total number of IPCO shares outstanding as of April 4 to 115,176,514, of which 206,940 are now held in treasury. Since December 5, IPCO has effectively bought back 4,701,309 shares under the NCIB, with plans for more repurchases up to a maximum of 7,465,356 shares within a 12-month horizon.
Company Overview and Future Outlook
International Petroleum Corporation (IPCO) is an international oil and gas exploration and production firm. With assets situated in Canada, Malaysia, and France, IPCO is well-positioned for future growth, both organically and through strategic acquisitions. The Corporation is part of the esteemed Lundin Group of Companies, operating with a vision for sustainable and long-term value delivery.
This share repurchase program aligns with IPCO's commitment to returning value to shareholders while continuing its robust operational initiatives.
Contact Information for Further Inquiries
Queries regarding the NCIB program can be directed to:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Tel: +41 22 595 10 50
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Tel: +46 701 11 26 15
Frequently Asked Questions
What is the purpose of IPCO's NCIB?
The NCIB aims to repurchase common shares to enhance shareholder value by reducing the outstanding shares and potentially increasing share price.
How many shares has IPCO repurchased under the NCIB?
As of April 4, 2025, IPCO has repurchased a total of 4,701,309 shares under its NCIB program.
What regulations govern IPCO's share repurchase activity?
IPCO's NCIB is conducted in accordance with the Market Abuse Regulation (EU) and local regulations of the Toronto Stock Exchange and Nasdaq Stockholm.
Who manages the share repurchase transactions?
Transactions are managed by financial institutions such as Pareto Securities AB and ATB Securities Inc. on behalf of IPCO.
What is IPCO's strategy for future growth?
IPCO focuses on expanding its asset portfolio in oil and gas exploration, targeting both organic growth and strategic acquisitions within key markets.
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