International Petroleum Corporation Enhances Shareholder Value
International Petroleum Corporation Completes Share Repurchase Program
International Petroleum Corporation (IPC) is excited to share the successful completion of its normal course issuer bid and share repurchase program. This initiative involved the cancellation of 7,465,356 IPC common shares, accounting for around 6.2% of the total outstanding shares when the program began. IPC's continued commitment to enhancing shareholder value is evident through this program, which ran from December to September, with plans for renewal in December for an additional term.
Renewal Plans for Share Repurchase Program
Looking forward, IPC intends to renew its normal course issuer bid for an additional twelve months, subject to the approval of the Toronto Stock Exchange (TSX). The anticipated renewal will allow IPC to purchase up to approximately 6.5 million common shares, reflecting about 5.8% of total outstanding shares. Through such programs, IPC seems poised to continue delivering value directly back to its shareholders.
Summary of Recent Share Repurchases
In a recent active trading period, specifically from September 22 to 26, IPC repurchased 141,764 common shares. Notably, these transactions are made under the guidelines set by the Market Abuse Regulation and relevant regulations from both the TSX and Nasdaq Stockholm. During this brief period, IPC purchased a total of 99,063 shares on Nasdaq Stockholm and an additional 42,701 shares on the TSX, facilitated by reputable brokers on its behalf.
Details on Share Transactions
The breakdown of share transactions during this period is essential for maintaining transparency and investor confidence. All shares repurchased by IPC under the current normal course issuer bid will be canceled, which was evident as 600,437 shares were canceled in September alone. With these efforts, the total issued common shares as of September 30, sum up to 112,155,527 shares, reflecting a strong commitment to enhancing shareholder structure and value.
Strategic Focus of IPC
IPC is not just about financial maneuvers; it’s a dynamic player in the international oil and gas exploration industry. With a strong presence in several countries, including Canada, Malaysia, and France, IPC offers a robust portfolio of assets that drives both organic and inorganic growth opportunities. As part of the Lundin Group of Companies, IPC stands on a solid foundation poised for future advancements in the energy market.
Commitment to Sustainable Growth
With ongoing efforts to innovate and drive efficiency, IPC remains focused on sustainable growth practices. The company's strategic goals extend beyond immediate financial transactions and delve into long-term planning that prioritizes environmental responsibility and operational excellence within the resource extraction industry.
Contact Information for Further Inquiries
For detailed inquiries regarding IPC’s activities or share repurchase program, individuals are encouraged to reach out to:
Rebecca Gordon, SVP Corporate Planning and Investor Relations, at +41 22 595 10 50 or via email. Additionally, Robert Eriksson, Media Manager, is available at +46 701 11 26 15 for media-related questions.
Frequently Asked Questions
What is the significance of IPC's share repurchase program?
The share repurchase program allows IPC to reduce the number of outstanding shares, enhancing value for remaining shareholders by potentially increasing earnings per share (EPS).
How many shares did IPC repurchase during the recent period?
IPC repurchased a total of 141,764 common shares during the period from September 22 to 26, 2025.
Where are IPC's shares listed?
IPC's shares are listed on both the Toronto Stock Exchange (TSX) and Nasdaq Stockholm under the ticker symbol 'IPCO'.
What are IPC's growth prospects?
IPC is well-positioned for growth with its diverse portfolio across Canada, Malaysia, and France, and aims to leverage both organic growth and potential acquisitions.
Who can I contact for more information on IPC?
For inquiries, you can contact Rebecca Gordon for corporate planning or Robert Eriksson regarding media relations at the provided contact numbers.
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