International Petroleum Corporation (IPC or the Corporation) (TSX, IPCO) is pleased to announce that IPC repurchased a total of 144,000 IPC common shares (ISIN: CA46016U1084) during the period of August 1 to 5, 2022 under the previously announced share repurchase program.
The share repurchase program, announced by IPC on December 1, 2021, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.
During the period of August 1 to 5, 2022, IPC repurchased a total of 100,000 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.
During the same period, IPC purchased a total of 44,000 IPC common shares on the TSX and/or alternative Canadian trading systems. All of these share repurchases were carried out by ATB Capital Markets Inc. on behalf of IPC.
As previously announced, all common shares repurchased by IPC under the share repurchase program will be cancelled. Following cancellation of the shares repurchased up to August 5, 2022, the total number of issued and outstanding IPC common shares will be 138,711,007. As at August 5, 2022, the total number of issued and outstanding IPC common shares was 139,377,607 with voting rights and IPC held 666,600 common shares in treasury.
A full breakdown of the transactions conducted during the period of August 1 to 5, 2022 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation on Nasdaq Stockholm is available on IPC’s website: www.international-petroleum.com. Since December 3, 2021 up to and including August 5, 2022, a total of 8,398,686 IPC common shares have been repurchased under the share repurchase program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems. A maximum of 11,097,074 IPC common shares may be repurchased over the period of twelve months commencing December 3, 2021 and ending December 2, 2022, or until such earlier date as the share repurchase program is completed or terminated by IPC.
International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol "IPCO".