Friday, July 19, 2024

Results of Normal Course Issuer Bid Announced by International Petroleum Corporation

International Petroleum Corporation announces repurchase of common shares under NCIB

International Petroleum Corporation (IPC) has announced the repurchase of over 250,000 of its common shares as part of its normal course issuer bid / share repurchase program. This move is aimed at enhancing shareholder value and optimizing the company’s capital structure.

During the period of July 1 to 5, 2024, IPC repurchased a total of 258,760 common shares, with 200,000 shares bought on Nasdaq Stockholm and 58,760 shares purchased on the Toronto Stock Exchange (TSX). All repurchased shares will be cancelled, leaving IPC with 123,271,885 issued and outstanding common shares, with 258,760 held in treasury.

Since the initiation of the repurchase program in December 2023, IPC has repurchased a total of 5,211,695 common shares. The program allows for a maximum of 8,342,119 shares to be repurchased over a twelve-month period ending December 4, 2024.

IPC, a member of the Lundin Group of Companies, is an international oil and gas exploration and production company with assets in Canada, Malaysia, and France. The company’s shares are listed on the TSX and Nasdaq Stockholm under the symbol “IPCO.”

Investors and stakeholders can find more information about the repurchase transactions on IPC’s website and the Nasdaq Stockholm website. The company remains focused on delivering strong performance, organic growth, and value creation for its shareholders.

For further details and inquiries, interested parties can contact Rebecca Gordon, SVP Corporate Planning and Investor Relations, at rebecca.gordon@international-petroleum.com or Robert Eriksson, Media Manager, at reriksson@rive6.ch.

The information was released on July 8, 2024, at 14:00 CEST, highlighting IPC’s commitment to transparency and effective communication with its stakeholders.

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