1 for 4 rights issue of up to 103,622,311 new ordinary shares at euro 10.50 per new ordinary share
05 March 2001
CRH today announces that it is raising approximately euro 1.1 billion, net of expenses, by the issue of up to 103,622,311 Rights Shares at a price of euro 10.50 per share. The issue is being made by way of a rights issue to qualifying shareholders (other than certain overseas shareholders) on the basis of one Rights Share for every four existing ordinary shares held at the close of business on 2 March 2001.
The Board believes that an equity input by way of a rights issue at this point in time is desirable, to back the extensive resources committed to development and to ensure that the Group is not constrained in its plans to take full advantage of acquisition opportunities as they arise in its various geographic, product and sectoral markets. The Rights Issue announced today will contribute to the further expansion of the Group.
Application has been made to the UK Listing Authority, the London Stock Exchange plc (the "LSE") and The Irish Stock Exchange Limited for up to 103,622,311 Rights Shares to be admitted to the Official List of the UK Listing Authority and for admission to trading on the LSE's market for listed securities and on the Irish Stock Exchange, respectively. It is expected that admission of the Rights Shares, nil paid, will become effective on 7 March 2001.
This announcement does not constitute an offer of securities for sale in the United States. The information contained herein is not for publication or distribution to persons in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) and may not be offered or sold in the United States unless they are registered with the U.S. Securities and Exchange Commission or pursuant to an exemption from the registration requirements of the Securities Act.