Lundin Family Trusts Restructure Holdings in International Petroleum Corporation
November 07 2019 - 1:30AM
International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm:
IPCO) announces that Lorito Holdings S.à.r.l. ("Lorito") and Zebra
Holdings and Investments S.à.r.l ("Zebra"), both private
corporations owned by a trust whose settlor was the late Adolf H.
Lundin, have restructured their holdings in IPC.
Lorito has transferred 3,022,017 common shares
of IPC and Zebra has transferred 3,192,541 common shares of IPC to
Nemesia S.à.r.l. ("Nemesia"), also a private corporation owned by a
trust whose settlor was the late Adolf H. Lundin.
As a result of this restructuring, Zebra now
holds 2,633,618 common shares of IPC and Lorito no longer holds any
common shares of IPC. Nemesia, having also acquired an additional
2,643,777 common shares of IPC at the same time from Landor
Participations Inc. (controlled by another Lundin family trust),
now holds 38,063,915 common shares of IPC. Following the
restructuring, the Lundin family trust controls 40,697,533 common
shares or 24.86% of the issued and outstanding common shares of
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
Europe, 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 under the symbol
"IPCO".
For further information, please contact:
Rebecca GordonVP Corporate Planning and Investor
Relationsrebecca.gordon@international-petroleum.comTel: +41 22 595
10 50 |
Or |
Robert ErikssonMedia Managerreriksson@rive6.chTel: +46 701 11 26
15 |
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"forward-looking statements" or "forward-looking information"
(within the meaning of applicable securities legislation). Such
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relate to future events, including the Corporation's future
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may differ materially from those expressed or implied by
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laws.
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