8-K

CRH PUBLIC LTD CO 8-K Report (Nov 29, 2018)

Filed November 29, 2018For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K to provide an update on its ongoing share buyback program. The company announced the commencement of 'Phase 3 Programme' on November 20, 2018, with a maximum consideration of €100 million. This latest filing confirms that CRH has entered into non-discretionary instructions with Merrill Lynch International to execute this Phase 3 Programme on its behalf. This arrangement means that Merrill Lynch International will make independent trading decisions within pre-set parameters, effectively outsourcing the day-to-day execution of the buyback. The overall intention to repurchase ordinary shares up to €1 billion over the next 12 months, announced in April 2018, remains in place, with this €100 million program being a component of it. Investors should note that decisions regarding any future buyback programs will continue to be based on CRH's assessment of its capital needs and general market conditions.

Key Highlights

  • 1CRH announced the commencement of Phase 3 of its Share Buyback Programme on November 20, 2018, for a maximum consideration of €100 million.
  • 2The company has entered into non-discretionary instructions with Merrill Lynch International to conduct the Phase 3 Programme.
  • 3Merrill Lynch International will make trading decisions independently of CRH within pre-set parameters.
  • 4This €100 million program is part of a larger intention to repurchase ordinary shares of up to €1 billion over the next 12 months, announced in April 2018.
  • 5The core details of the Phase 3 Programme, as announced on November 20, 2018, remain unchanged.
  • 6Future buyback programs will be contingent on ongoing assessments of business capital needs and general market conditions.

Frequently Asked Questions

This filing (Form 6-K) serves as an update to CRH's Phase 3 Share Buyback Programme. It confirms that the company has appointed Merrill Lynch International to execute the buyback programme on its behalf through non-discretionary instructions.

The Phase 3 Programme has a maximum consideration of €100 million. This is part of a larger €1 billion share repurchase intention announced in April 2018.

Merrill Lynch International has been engaged to conduct the Phase 3 Programme. They will be making trading decisions independently of CRH, operating under specific pre-set parameters.

The announcement details the execution of the Phase 3 Programme, which is a €100 million component of the larger €1 billion buyback initiative. Any decisions on future buyback programmes will be based on an ongoing assessment of capital needs and market conditions, implying flexibility in future plans beyond the current €1 billion intention.