International Petroleum Corporation's Recent Share Buybacks
TORONTO, International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) has actively engaged in repurchasing its stocks recently. In a significant move, IPC repurchased a total of 199,956 IPC common shares from March 24 to 31, showcasing the company’s commitment to enhancing shareholder value through its normal course issuer bid (NCIB).
Overview of Share Repurchase Activities
The NCIB, initiated on December 3, is being executed within the framework of existing financial regulations. During the specified period, IPC acquired 135,000 common shares on Nasdaq Stockholm, facilitated by Pareto Securities AB, ensuring a seamless process for shareholders. This initiative aligns with IPC's strategic goals to optimize share capital and return value to shareholders.
Additionally, the program saw IPC purchasing 64,956 common shares on the TSX, managed by ATB Securities Inc. This dual-market approach reflects the company's robust presence and operational versatility across different exchanges.
Cancellation of Repurchased Shares and Current Status
All common shares acquired under the NCIB will be canceled, reinforcing IPC's strategy to maintain an efficient share structure. In March alone, IPC canceled 1,233,054 common shares, which brings the total outstanding shares to 115,176,514 as of March 31. IPC's strategic focus remains on long-term growth and sustainability.
Continued Share Repurchases Up to December 2025
Since beginning its NCIB, IPC has repurchased approximately 4,494,369 shares, and the company is authorized to buy back a maximum of 7,465,356 shares over a twelve-month period, which extends to December 4, 2025. This ambitious goal reflects IPC's confidence in its market position and financial benefits for its stakeholders.
The Company’s Operational Footprint
International Petroleum Corp. is renowned for its strategic exploration and production portfolio, featuring high-quality assets in regions like Canada, Malaysia, and France. As a member of the Lundin Group of Companies, IPC is well-positioned to pursue both organic and inorganic growth opportunities amidst the evolving energy landscape.
Contact Information for Inquiries
For further information, IPC encourages stakeholders to reach out:
Rebecca Gordon
SVP Corporate Planning and Investor Relations
Tel: +41 22 595 10 50
Email: rebecca.gordon@international-petroleum.com
Robert Eriksson
Media Manager
Tel: +46 701 11 26 15
Email: reriksson@rive6.ch
Frequently Asked Questions
What is a normal course issuer bid (NCIB)?
An NCIB allows a company to buy back its own shares from the market to enhance shareholder value and optimize its capital structure.
Why did IPC choose to repurchase its shares?
IPC aims to return value to its shareholders and improve share liquidity by decreasing the total number of outstanding shares through its repurchase program.
How many shares has IPC repurchased to date?
As of now, IPC has repurchased a total of about 4,494,369 common shares since initiating the NCIB.
What are the benefits of share repurchase programs?
Share repurchase programs can lead to increased earnings per share, improved share price, and show confidence in the company's future prospects.
How is IPC's current share structure after the repurchases?
After the cancellation of repurchased shares, IPC currently has 115,176,514 common shares outstanding with no shares held in treasury.
