Summary
CRH Public Limited Company (CRH) announced on March 8, 2021, the recommencement of its share buyback program. This initiative is set to repurchase ordinary shares for a maximum consideration of $300 million, commencing immediately and concluding by June 24, 2021. The company has engaged Societe Generale to execute these repurchases on its behalf, with trading decisions made independently within pre-set parameters. The primary objective of this buyback is to reduce CRH's share capital. The program will operate under existing shareholder authorities and comply with relevant market abuse regulations. Repurchased shares will be held in treasury for potential cancellation or re-issue. This buyback program follows CRH's announcement of its 2020 Full Year Results on March 4, 2021, and signifies a proactive capital allocation strategy to enhance shareholder value.
Key Highlights
- 1CRH is recommencing its share buyback program with a new tranche of up to $300 million.
- 2The buyback program will commence on March 8, 2021, and is expected to conclude by June 24, 2021.
- 3Societe Generale has been appointed to manage the share repurchases.
- 4The repurchases will be conducted on Euronext Dublin.
- 5The maximum number of ordinary shares that can be repurchased is 50,000,000.
- 6The primary purpose of the buyback is to reduce CRH's share capital.
- 7The program will adhere to all applicable shareholder authorities and market abuse regulations.