CRH PLC CRH Continues Share Buyback Programme (9123Y)
07 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMCRH
RNS Number : 9123Y
CRH PLC
07 January 2020
Press Release
CRH Continues Share Buyback Programme
CRH plc, the global building materials group, is pleased to
announce that it has completed the latest phase of its share
buyback programme, returning a further EUR240 million of cash to
shareholders.
Between 26 August 2019 and 3 January 2020, 7.6 million ordinary
shares were repurchased on Euronext Dublin at an average discount
of 3.1% to the volume weighted average price over the period.
CRH today also announces that it has entered into arrangements
with J&E Davy ("Davy") to repurchase ordinary shares on CRH's
behalf for a maximum consideration of EUR200 million (the
"Buyback"). The Buyback will commence today, 7 January 2020, and
will end no later than 31 March 2020.
Under the terms of the Buyback, ordinary shares will be
repurchased on Euronext Dublin. CRH has entered into
non-discretionary instructions with Davy to conduct the Buyback on
its 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 25 April 2019 to repurchase up to 10% of
the Company's ordinary shares in issue (being 29,868,957 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 Market Abuse Regulation 596/2014, the Commission
Delegated Regulation (EU) 2016/1052 and Chapter 12 of the UK
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.
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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.78,000 people at
c.3,100 operating locations in 31 countries. It is the largest
building materials business in North America, the largest heavyside
materials business in Europe and has a number of strategic
positions in the emerging economic regions of 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
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END
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