CRH Continues Share Buyback Programme

Rhea-AI Summary

CRH plc has completed the latest phase of its share buyback program, returning $0.3 billion to shareholders, bringing the total to $3.2 billion since May 2018. A further buyback of up to $300 million will commence on March 17, 2022, lasting until June 27, 2022. This buyback aims to reduce the share capital by repurchasing a maximum of 45 million ordinary shares on Euronext Dublin. The program aligns with capital needs assessments and market conditions, ensuring compliance with regulatory requirements.

Positive

• Total cash returned to shareholders reaches $3.2 billion since May 2018.
• Commencement of an additional $300 million buyback can enhance shareholder value.
• Reduction in share capital may positively impact earnings per share (EPS).

Negative

• The ongoing buyback reduces available cash reserves, potentially impacting future investments.

DUBLIN, IRELAND / ACCESSWIRE / March 17, 2022 / CRH plc, the leading building materials business in the world, 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 24 December 2021 and 16 March 2022, 6.1 million ordinary shares were repurchased on Euronext Dublin at an average discount of 1.43% to the volume-weighted average price over the period.

This brings total cash returned to shareholders under our ongoing share buyback programme to $3.2 billion since its commencement in May 2018.

CRH today also announces that it has entered into arrangements with Societe Generale to repurchase ordinary shares on CRH's behalf for a maximum consideration of $300 million (the "Buyback"). The Buyback will commence today, 17 March 2022, and will end no later than 27 June 2022.

Under the terms of the Buyback, ordinary shares will be repurchased on Euronext Dublin. CRH has entered into non-discretionary instructions with Societe Generale, 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 maximum number of ordinary shares that may be repurchased under the Buyback is 45,000,000. The purpose of the Buyback is to reduce the share capital of CRH. The Buyback will at all times be conducted in accordance with the applicable annual general authorities granted by shareholders to repurchase CRH's ordinary shares. The Buyback will also be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the UK, from time to time, including, where relevant, pursuant to 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.

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.77,400 people at c.3,200 operating locations in 28 countries. It is the largest building materials business in North America and Europe and also has regional positions in Asia. CRH manufactures and supplies a range of integrated building materials, products and innovative solutions which can be found throughout the built environment, from major public infrastructure projects to commercial buildings and residential structures. 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'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

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https://www.accesswire.com/693464/CRH-Continues-Share-Buyback-Programme

FAQ

What is the total amount returned to shareholders by CRH as of March 2022?

CRH has returned a total of $3.2 billion to shareholders since the start of its buyback program in May 2018.

How much is CRH's new share buyback program worth?

CRH's new share buyback program is worth up to $300 million.

When will the new CRH share buyback program begin and end?

The new share buyback program will commence on March 17, 2022, and is expected to end by June 27, 2022.

What is the maximum number of shares CRH plans to repurchase in the latest buyback?

CRH plans to repurchase a maximum of 45 million ordinary shares in the latest buyback.

What is the purpose of CRH's share buyback program?

The purpose of CRH's share buyback program is to reduce its share capital.