CRH Commences Phase 3 of Share Buyback Programme
20 November 2018
On 25 April 2018, CRH plc announced its intention to repurchase ordinary shares of up to €1 billion over the next 12 months.
Having already completed the first and second phases of its share buyback programme, under which approximately €700 million of cash was returned to shareholders, CRH today announces the next phase of the programme, a discretionary programme to repurchase ordinary shares for a maximum consideration of €100 million (the "Phase 3 Programme").
The Phase 3 Programme will commence today, 20 November 2018, and will end no later than 31 December 2018.
Under the terms of the Phase 3 Programme, ordinary shares will be repurchased on the London Stock Exchange within certain pre-set parameters.
The Phase 3 Programme, the purpose of which is to reduce the share capital of CRH, will be conducted within the limitations of the authority granted at CRH's AGM on 26 April 2018 to repurchase up to 10% of the Company's ordinary shares in issue (being 60,283,951 ordinary shares following the completion of the first and second phases of the buyback programme), 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 Phase 3 Programme 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 |
|Frank Heisterkamp ||Head of Investor Relations |
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