REG - CRH PLC - CRH Continues Share Buyback Programme

CRHAnnouncement

25/09/2023 08:15

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RNS Number : 4372N  CRH PLC  25 September 2023

Press Release

CRH Continues Share Buyback Programme

 

Between 30 June 2023 and 22 September 2023, 17.7 million ordinary shares were
repurchased on Euronext Dublin and the London Stock Exchange. This brings
total cash returned to shareholders under our ongoing share buyback programme
to $6 billion since its commencement in May 2018.

 

CRH today also announces that it has entered into non-discretionary
arrangements with Merrill Lynch International and BofA Securities, Inc.
(together, "Bank of America") to repurchase ordinary shares on CRH's behalf
for an aggregate maximum consideration of up to $1 billion* on the London
Stock Exchange and/or in the United States, respectively (the "Buyback"). The
Buyback will commence today, 25 September 2023, on the London Stock Exchange
and no earlier than 23 October 2023 in the United States due to the
requirements of Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as
amended (the "Exchange Act"). The Buyback will end no later than 20 December
2023. This $1 billion tranche is the third stage of the wider $3 billion
programme announced on 2 March 2023.

 

Bank of America 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 35,000,000. The purpose of the Buyback is
to reduce the share capital of CRH.

 

The Buyback will be conducted within the parameters prescribed by (i) 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 UK's Market Abuse (Amendment) (EU Exit) Regulations 2019 (as may
be amended and/or supplemented from time to time) and (ii) Rule 10b5-1 and
Rule 10b-18 under the Exchange Act. The repurchased ordinary shares will be
cancelled.

 

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

 

* Being an amount equal to €940 million (based on a FX rate of $1.00:€0.94
fixed for the duration of the Buyback).

 

***

 

Contact CRH at Dublin 404 1000 (+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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