CRH Continues Share Buyback Programme

Rhea-AI Summary

CRH has successfully completed a new phase of its share buyback program, returning $0.3 billion to shareholders, bringing the total returned to $3.8 billion since May 2018. A total of 8.2 million shares were repurchased at an average discount of 0.93% between June 16 and September 19, 2022. A new buyback of up to $300 million will commence on September 20 and end by December 16, 2022, aimed at reducing share capital. The company is committed to conducting buybacks based on capital needs and market conditions.

Positive

• Returned $0.3 billion to shareholders via buyback, totaling $3.8 billion since 2018.
• Repurchased 8.2 million shares at an average 0.93% discount, enhancing shareholder value.
• New buyback program of up to $300 million initiated, signaling strong capital management.

Negative

• None.

DUBLIN, IRELAND / ACCESSWIRE / September 20, 2022 / 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 16 June 2022 and 19 September 2022, 8.2 million ordinary shares were repurchased on Euronext Dublin at an average discount of 0.93% to the volume weighted average price over the period.

This brings total cash returned to shareholders under our ongoing share buyback programme to $3.8 billion since its commencement in May 2018.

CRH today also announces that it has entered into arrangements with UBS A.G., London Branch ("UBS") to repurchase ordinary shares on CRH's behalf for a maximum consideration of $300 million* (the "Buyback"). The Buyback will commence today, 20 September 2022, and will end no later than 16 December 2022.

Under the terms of the Buyback, ordinary shares will be repurchased on Euronext Dublin. CRH has entered into non-discretionary instructions with UBS, 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 55,827,503 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 €300 million (based on a FX rate of €1:$1 fixed for the duration of the Buyback).

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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.com

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

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SOURCE: CRH PLC

View source version on accesswire.com:
https://www.accesswire.com/716650/CRH-Continues-Share-Buyback-Programme

FAQ

What is the purpose of CRH's recent $300 million share buyback?

The $300 million buyback aims to reduce CRH's share capital and enhance shareholder value.

When did CRH complete its latest phase of the share buyback program?

CRH completed its latest phase of the buyback program on September 19, 2022.

How much total cash has CRH returned to shareholders through buybacks?

CRH has returned a total of $3.8 billion to shareholders through its share buyback program since 2018.

What was the average discount at which CRH repurchased shares in the latest buyback phase?

CRH repurchased shares at an average discount of 0.93% to the volume weighted average price.

When will the new buyback program initiated by CRH end?

The new buyback program will end no later than December 16, 2022.