CRH Recommences Share Buyback Programme

Rhea-AI Summary

CRH plc has launched a share buyback programme, aiming to repurchase up to $300 million worth of ordinary shares. This initiative follows its 2020 Full Year Results announcement on March 4, 2021. The buyback will take place on Euronext Dublin and will run from March 8, 2021, until no later than June 24, 2021. A maximum of 50,000,000 shares will be repurchased, aimed at reducing share capital. The programme aligns with shareholder approvals and regulatory requirements.

Positive

• Share buyback of up to $300 million to enhance shareholder value.
• Reduction of share capital through the repurchase of up to 50 million shares.
• Confidence in financial stability reflected through the recommencement of the buyback.

Negative

• None.

DUBLIN, IRELAND / ACCESSWIRE / March 8, 2021 / As part of its 2020 Full Year Results on 4 March 2021, CRH plc announced its intention to recommence its share buyback programme with a further tranche of up to $300 million.

CRH today 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, 8 March 2021, and will end no later than 24 June 2021.

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 50,000,000. 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.

This announcement relates solely to the Buyback and 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
Senan Murphy	Finance Director
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.77,000 people at c.3,100 operating locations in 30 countries. It is the largest building materials business in North America and in Europe. It also has positions in Asia and South America. 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE:

View source version on accesswire.com:
https://www.accesswire.com/633962/CRH-Recommences-Share-Buyback-Programme

FAQ

What is the purpose of CRH's share buyback programme announced on March 8, 2021?

The purpose is to repurchase up to $300 million of ordinary shares to reduce share capital.

How much will CRH spend on the share buyback programme?

CRH intends to spend up to $300 million on the share buyback programme.

When will CRH's share buyback programme take place?

The buyback programme will commence on March 8, 2021, and end no later than June 24, 2021.

How many shares will CRH repurchase in the buyback programme?

CRH plans to repurchase a maximum of 50,000,000 ordinary shares.

Where will CRH's share buyback take place?

The share buyback will be conducted on Euronext Dublin.