CRH PLC CRH Continues Share Buyback Programme (4372N)
25 September 2023 - 4:00PM
UK Regulatory
TIDMCRH
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 EUR940 million (based on a FX rate of
$1.00:EUR0.94 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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