International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 352,546 IPC common shares (ISIN: CA46016U1084) during the period of January 31 to February 4, 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.
All of share repurchases during the period of January 31 to February 4, 2022 were carried out by Pareto Securities AB on behalf of IPC on Nasdaq Stockholm.
For more information regarding transactions under the share repurchase program in Sweden, including aggregated volume, weighted average price per share and total transaction value for each trading day during the period of January 31 to February 4, 2022, see the following link to Nasdaq Stockholm’s website:
As previously announced, all common shares repurchased by IPC under the share repurchase program will be cancelled. Following cancellation of the repurchased shares, the total number of issued and outstanding IPC common shares will be 152,719,547 and IPC will not hold any common shares in treasury. The total number of issued and outstanding shares is 153,310,778 and IPC currently holds 591,231 common shares in treasury.
A full breakdown of the transactions conducted during the period of January 31 to February 4, 2022 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation on Nasdaq Stockholm is attached to this press release. Since December 3, 2021 up to and including February 4, 2022, a total of 2,648,210 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”.