REG - CRH PLC - CRH Continues Share Buyback Program

CRHAnnouncement

21/12/2023 07:15

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RNS Number : 5353X  CRH PLC  21 December 2023

Press Release

CRH Continues Share Buyback Program

 

CRH plc, the leading provider of building materials solutions, is pleased to
announce that it has completed the latest phase of its share buyback program,
returning a further $1.0 billion of cash to shareholders.

 

Between 25 September 2023 and 20 December 2023, 17.1 million ordinary shares
listed on the New York Stock Exchange and on the London Stock Exchange were
repurchased. This brings total cash returned to shareholders under our ongoing
share buyback program to $7 billion since its commencement in May 2018.

 

CRH today also announces that it has entered into an arrangement with
Citigroup Global Markets Inc. ("Citi") to repurchase ordinary shares listed on
the New York Stock Exchange on CRH's behalf for an aggregate maximum
consideration of $300 million (the "Buyback"). The Buyback will commence
today, 21 December 2023, and will end no later than 28 February 2024. This
$300 million tranche is the final stage of the wider $3 billion program
announced on 2 March 2023.

Citi will conduct the Buyback on CRH's behalf and will make trading decisions
under the Buyback independently of CRH in accordance with certain pre-set
parameters. The maximum number of ordinary shares which may be acquired
pursuant to the Buyback is 18,000,000. The purpose of the Buyback is to reduce
the share capital of CRH.

 

The Buyback will be conducted within the parameters prescribed by (i) Rule
10b5-1 and Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as
amended and (ii) the EU Market Abuse Regulation (596/2014) and Commission
Delegated regulation (EU) 2016/1052 as such legislation forms part of retained
EU law in the United Kingdom ("UK") (as defined in the EU (Withdrawal) Act
2018) and as amended pursuant to the UK's Market Abuse (Amendment) (EU Exit)
Regulations 2019 (as may be amended and/or supplemented from time to time). No
repurchases will be made outside of the United States. The repurchased
ordinary shares will be cancelled.

 

Any decision in relation to any future buyback program will be based on an
ongoing assessment of the capital needs of the business and general market
conditions.

 

***

 

Contact CRH at +353 1 404 1000

   Albert Manifold     Chief Executive
   Jim Mintern         Chief Financial Officer
   Frank Heisterkamp   Director of Capital Markets & ESG
   Tom Holmes          Head of Investor Relations

 

 

 

 

About CRH

CRH (NYSE: CRH, LSE: CRH) is the leading provider of building materials
solutions that build, connect and improve our world. Employing c.75,800 people
at c.3,160 operating locations in 29 countries, CRH has market leadership
positions in both North America and Europe. As the essential partner for road
and critical utility infrastructure, commercial building projects and outdoor
living solutions, CRH's unique offering of materials, products and value-added
services helps to deliver a more resilient and sustainable built environment.
The company is ranked among sector leaders by Environmental, Social and
Governance (ESG) rating agencies. A Fortune 500 company, CRH's shares are
listed on the NYSE and LSE.

 

Registered Office: No 12965. Registered Office: 42 Fitzwilliam Square, Dublin
2, R02 R279, Ireland

 

Forward-Looking Statements

 

This document contains statements that are, or may be deemed to be
forward-looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These forward-looking statements may
generally, but not always, be identified by the use of words such as "will",
"believe", "continues", "is expected to", or similar expressions. These
forward-looking statements include all matters that are not historical facts
or matters of fact at the date of this document. Forward-looking statements
are subject to risks, uncertainties and other factors because they relate to
events and depend on circumstances that may or may not occur in the future
and/or are beyond CRH's control or precise estimate. Such risks, uncertainties
and other factors include, but are not limited to, plans and expectations
related to the anticipated financial and operational results of the US primary
listing, expectations related to the US as a driver for future growth, and
plans and expectations related to government policies. There are important
factors, risks and uncertainties that could cause actual outcomes and results
to be materially different, including risks and uncertainties relating to CRH
described under "Principal Risks and Uncertainties (Risk Factors)" of the
Company's Annual Report and Form 20-F for the year ended December 31, 2022.
You are cautioned not to place undue reliance on any forward-looking
statements. These forward-looking statements are made as of the date of this
document. The Company expressly disclaims any obligation or undertaking to
publicly update or revise these forward-looking statements other than as
required by applicable law.

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