IPC Announces Significant Share Repurchases Under NCIB Program
IPC Shares Update: Enhancements Through Buybacks
International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) is excited to share that it has recently repurchased a significant total of 76,000 IPC common shares under its normal course issuer bid program (NCIB).
Overview of the Normal Course Issuer Bid
The NCIB was initiated on December 3, 2024, allowing IPC to repurchase its own shares subject to specific regulations outlined in the Market Abuse Regulation (EU) No 596/2014 and corresponding Canadian and Swedish securities laws. IPC aims to enhance shareholder value and provide an efficient capital allocation strategy through this program.
Recent Share Repurchases
During the brief period from July 1 to July 4, 2025, IPC executed a total of 60,000 repurchases of common shares on the Nasdaq Stockholm exchange, facilitated by Pareto Securities AB. In addition, IPC purchased an additional 16,000 shares on the Toronto Stock Exchange (TSX), administered by ATB Securities Inc.
Total Repurchase Summary
All of the common shares acquired are scheduled to be cancelled, ensuring a decrease in the total number of shares outstanding. As of the latest transaction date, IPC holds a total of 113,354,532 issued IPC common shares, of which 76,000 are kept in treasury following these buybacks.
Historical Buyback Achievements
Since initiating the NCIB, IPC has successfully repurchased a cumulative total of 6,392,351 shares through both the TSX and Nasdaq Stockholm exchanges. The program has an allocation limit allowing for a maximum repurchase of 7,465,356 shares over a twelve-month period concluding on December 4, 2025, unless completed sooner.
About International Petroleum Corporation
International Petroleum Corporation is engaged in the international oil and gas exploration and production sector. The company boasts a robust portfolio of assets spread across Canada, Malaysia, and France, underlining its potential for organic growth and strategic acquisitions. IPC, a member of the Lundin Group of Companies and incorporated in Canada, is publicly listed under the ticker symbol 'IPCO' on both the TSX and Nasdaq Stockholm exchanges.
Contact Information for Inquiries
For further details regarding IPC and its ongoing initiatives, concerned parties may reach out to:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Phone: +41 22 595 10 50
Or
Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Phone: +46 701 11 26 15
This update was composed to provide insights into IPC’s operational strategies on share repurchases and their implications for shareholders.
Frequently Asked Questions
What is the purpose of the Normal Course Issuer Bid (NCIB)?
The NCIB allows IPC to buy back its shares to improve shareholder value and manage capital efficiently.
How many shares did IPC repurchase in the latest program?
IPC repurchased a total of 76,000 shares from July 1 to July 4, 2025.
What exchanges are involved in IPC's share repurchase program?
IPC's repurchases are conducted on the Toronto Stock Exchange (TSX) and Nasdaq Stockholm.
How does the repurchase affect IPC's share count?
All repurchased shares are to be cancelled, reducing the total number of outstanding shares.
Who can be contacted for more information about IPC?
Rebecca Gordon and Robert Eriksson are available for inquiries regarding IPC and its operations.
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