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International Petroleum repurchases 59,454 shares under its NCIB programme

International Petroleum Corporation repurchased 59,454 common shares between 15 and 19 September, under its ongoing share buyback programme compliant with Canadian and European regulations.

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International Petroleum Corporation announced that it repurchased a total of 59,454 common shares between 15 and 19 September under its share buyback programme, known as a normal course issuer bid (NCIB). The programme, launched on 3 December 2024, authorises the company to repurchase up to 7,465,356 of its own shares over a twelve-month period.

Executions split between Toronto and Stockholm

During the period, 44,754 shares were repurchased on Nasdaq Stockholm through Pareto Securities AB. In parallel, 14,700 shares were acquired on the Toronto Stock Exchange by ATB Securities Inc., also mandated by International Petroleum Corporation. All repurchased shares are intended to be cancelled, in line with the terms of the programme.

Compliance with Canadian and European regulations

The NCIB has been implemented in accordance with the European Union Market Abuse Regulation (MAR) No 596/2014 and its Commission Delegated Regulation No 2016/1052, the so-called Safe Harbour Regulation. It also complies with the applicable rules of the Toronto Stock Exchange and Nasdaq Stockholm, as well as securities laws in force in Canada and Sweden.

Nearly 98% of the authorised volume already repurchased

Since the start of the programme, a total of 7,323,592 shares have been repurchased, representing roughly 98% of the authorised ceiling. This cumulative volume covers transactions carried out on both exchanges. As at 19 September, International Petroleum Corporation had 112,780,502 common shares outstanding, of which 483,211 were held in treasury.

The company, incorporated in Canada, is active in oil and gas exploration and production, with assets in Canada, Malaysia and France.

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