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International Petroleum Corp. Completes Share Repurchases under NCIB

Strategic Insights

— 1 min read

International Petroleum Corp. (IPC) recently completed the repurchase of 275,160 common shares under its normal course issuer bid (NCIB) program, as part of its efforts to return value to shareholders. The repurchase program, announced on December 3, 2024, is designed to allow IPC to purchase up to 7,465,356 shares over a 12-month period. The share repurchases were conducted on both the Toronto Stock Exchange (TSX) and Nasdaq Stockholm, with Pareto Securities AB and ATB Securities Inc. acting as intermediaries.

Key Takeaways:

  • IPC repurchased a total of 275,160 common shares under its NCIB program from May 1 to 9.
  • The share repurchases were conducted on both the TSX and Nasdaq Stockholm, with a total of 180,000 shares repurchased on the latter exchange and 95,160 shares repurchased on the former.
  • All common shares repurchased by IPC will be cancelled, bringing the total number of issued and outstanding IPC common shares down to 114,248,119, with 275,160 common shares in treasury.
  • Since December 5, 2024, a total of 5,697,924 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm.
  • The NCIB program allows for the purchase of up to 7,465,356 IPC shares over a 12-month period, commencing December 5, 2024, and ending December 4, 2025.

Statistics:

  • 275,160 common shares repurchased under NCIB program from May 1 to 9.
  • 180,000 common shares repurchased on Nasdaq Stockholm.
  • 95,160 common shares repurchased on TSX.
  • 114,248,119 total issued and outstanding IPC common shares after share repurchases.
  • 275,160 common shares in treasury after share repurchases.
  • 5,697,924 total IPC common shares repurchased under NCIB from December 5, 2024 to May 9.
  • 7,465,356 maximum number of IPC shares that can be repurchased under NCIB.

Sources:

  • International Petroleum Corp. press release
  • Market Abuse Regulation (EU) No 596/2014 (MAR)
  • Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation)
  • Toronto Stock Exchange (TSX) rules and policies
  • Nasdaq Stockholm rules and policies
  • Applicable Canadian and Swedish securities laws
  • www.international-petroleum.com/news-and-media/press-releases

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