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International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC has completed the current normal course issuer bid / share repurchase program (NCIB), purchasing for cancellation 9.3 million IPC common shares between December 2022 and November 2023, representing approximately 6.8% of the total outstanding common shares at the commencement of the NCIB. As previously announced, the IPC Board of Directors has approved, subject to acceptance by the TSX, the renewal of IPC’s NCIB for a further twelve months from December 2023 to December 2024. IPC expects that the renewed NCIB program will permit IPC to purchase on the TSX and/or Nasdaq Stockholm, and cancel, up to a further 8.3 million common shares, representing approximately 6.5% of the total outstanding common shares (or 10% of IPC’s “public float” under applicable TSX rules). IPC’s current intention is to fully complete the renewed NCIB program during 2024. During the period of November 13 to 15, 2023, IPC repurchased a total of 134,000 IPC common shares (ISIN: CA46016U1084) under the NCIB on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC. IPC’s current NCIB, announced on December […]
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