CRH Continues Share Buyback Program
08 August 2024 - 8:05AM
Business Wire
CRH plc (NYSE: CRH), the leading provider of building materials
solutions, is pleased to announce that it has completed the latest
phase of its share buyback program, returning a further $0.3
billion of cash to shareholders.
Between May 10, 2024 and August 7, 2024, 3.8 million ordinary
shares listed on the New York Stock Exchange were repurchased. This
brings total cash returned to shareholders under our ongoing share
buyback program to $7.9 billion since its commencement in May
2018.
CRH today also announces that it has entered into an arrangement
with BNP Paribas Securities Corp. (“BNPP”) to repurchase ordinary
shares listed on the New York Stock Exchange on CRH’s behalf for an
aggregate maximum consideration of up to $0.3 billion (the
“Buyback”). The Buyback will commence today, August 8, 2024, and
will end no later than November 6, 2024.
BNPP 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
55,000,000. The purpose of the Buyback is to reduce the share
capital of CRH.
The Buyback will be conducted within the parameters prescribed
by (i) Rule 10b5-1 and Rule 10b-18 under the U.S. Securities
Exchange Act of 1934, as amended and (ii) the EU Market Abuse
Regulation (596/2014) and Commission Delegated Regulation (EU)
2016/1052 as such legislation forms part of the law in the United
Kingdom (“UK”) pursuant to the EU (Withdrawal) Act 2018 (as may be
amended and/or supplemented from time to time). No repurchases will
be made outside of the United States. The repurchased ordinary
shares will be cancelled.
Any decision in relation to any future buyback program will be
based on an ongoing assessment of the capital needs of the business
and general market conditions.
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 approximately 78,500 people at approximately 3,390
operating locations in 28 countries, CRH has market leadership
positions in both North America and Europe. As the essential
partner for transportation and critical utility infrastructure
projects, complex non-residential construction 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.
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" 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
forward-looking statements include, but are not limited to,
expectations related to the structure, timing and volume of the
Buyback and manner in which the Buyback will be conducted and
expectations related to decisions on any future buyback program.
There are important factors that could cause actual outcomes and
results to be materially different, including risks and
uncertainties relating to CRH described in Item 1.A —Risk Factors
of CRH’s Annual Report on Form 10-K for the year ended December 31,
2023 and CRH’s other filings with the U.S. Securities and Exchange
Commission. 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. CRH 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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