REG - CRH PLC - CRH Continues Share Buyback Programme

CRHAnnouncement

19/12/2022 07:00

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RNS Number : 0709K  CRH PLC  19 December 2022

Press Release

CRH Continues Share Buyback Programme

 

CRH plc, the global leader in building materials solutions, is pleased to
announce that it has completed the latest phase of its share buyback
programme, returning a further $0.3 billion of cash to shareholders.

 

Between 20 September 2022 and 16 December 2022, 7.7 million ordinary shares
were repurchased on Euronext Dublin at an average discount of 1.20% to the
volume weighted average price over the period.

 

This brings total cash returned to shareholders under our ongoing share
buyback programme to $4.1 billion since its commencement in May 2018.

 

CRH today also announces that it has entered into arrangements with BofA
Securities Europe SA ("Bank of America") to repurchase ordinary shares on
CRH's behalf for a maximum consideration of $300 million* (the "Buyback"). The
Buyback will commence today, 19 December 2022, and will end no later than 30
March 2023.

 

Under the terms of the Buyback, ordinary shares will be repurchased on
Euronext Dublin. CRH has entered into non-discretionary instructions with Bank
of America, acting as principal, to conduct the Buyback on CRH's behalf and to
make trading decisions under the Buyback independently of CRH in accordance
with certain pre-set parameters.

 

The purpose of the Buyback is to reduce the share capital of CRH and it will
be conducted within the limitations of the authority granted at CRH's AGM on
28 April 2022 to repurchase up to 10% of the Company's ordinary shares in
issue (being  48,098,857 ordinary shares following the completion of the
latest phase of the buyback programme).

 

The Buyback will also be conducted within the parameters prescribed by the
Commission Delegated Regulation (EU) 2016/1052 and the Market Abuse Regulation
596/2014 (including as it forms part of retained EU law in the United Kingdom
("UK") from time to time, and, where relevant, pursuant to the UK's European
Union (Withdrawal) Act 2018 and the UK's Market Abuse (Amendment) (EU Exit)
Regulations 2019) and Chapter 12 of the UK Financial Conduct Authority's
Listing Rules. The repurchased ordinary shares will be held in treasury
pending their cancellation or re-issue in due course.

 

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 €282 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          Finance Director
   Frank Heisterkamp    Director of Capital Markets & ESG
   Tom Holmes           Head of Investor Relations

 

 

About CRH

CRH (LSE: CRH, ISE: CRG, NYSE: CRH) is the leading building materials business
in the world, employing c.73,000 people at c.3,200 operating locations in 29
countries. It is the largest building materials business in North America and
in Europe and also has regional positions in Asia. CRH manufactures and
supplies a range of integrated building materials, products and innovative
end-to-end solutions which can be found throughout the built environment in a
wide range of construction projects from major public infrastructure to homes
and commercial buildings. A Fortune 500 company, CRH is a constituent member
of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones
Sustainability Index (DJSI) Europe. CRH is ranked among sector leaders by
Environmental, Social and Governance (ESG) rating agencies. CRH's American
Depositary Shares are listed on the NYSE. For more information visit
www.crh.co (http://www.crh.com) m (http://www.crh.com)

 

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

 

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