Summary
CRH Public Limited Company announced on August 23, 2019, its intention to continue its share buyback program with a new tranche of up to €350 million. This buyback initiative is designed to reduce the company's share capital and will be executed by Societe Generale on CRH's behalf, commencing on August 26, 2019, and concluding no later than January 3, 2020. The program operates within the previously granted authority from CRH's Annual General Meeting on April 25, 2019, which allows for the repurchase of up to 10% of the company's outstanding ordinary shares. The repurchased shares will be held in treasury and are intended for cancellation or future re-issuance. This move signals CRH's commitment to returning value to shareholders and optimizing its capital structure, reflecting confidence in the company's ongoing performance and market position.
Key Highlights
- 1CRH plans to initiate a new share buyback program of up to €350 million.
- 2The buyback program will commence on August 26, 2019, and is expected to end by January 3, 2020.
- 3Societe Generale has been appointed to execute the share repurchases on behalf of CRH.
- 4The primary purpose of the buyback is to reduce the company's outstanding share capital.
- 5The program is authorized under the general mandate granted at the April 25, 2019 AGM, allowing repurchase of up to 10% of issued shares.
- 6Repurchased shares will be held in treasury, with plans for eventual cancellation or re-issue.
- 7The buyback will adhere to Market Abuse Regulation and UK Listing Rules.