Summary
CRH plc, a global leader in building materials, announced the continuation of its share buyback program through a Form 6-K filing on June 30, 2021. The company has arranged to repurchase up to $300 million worth of its ordinary shares on Euronext Dublin, with the program commencing on June 30, 2021, and concluding by October 1, 2021. This initiative is designed to reduce the company's share capital and is being conducted under the authority granted at the April 29, 2021 Annual General Meeting, which permits the repurchase of up to 10% of the outstanding shares. The buyback is being executed through non-discretionary instructions given to Societe Generale, which will act as principal and make independent trading decisions within pre-set parameters. The shares repurchased will be held in treasury, with subsequent decisions regarding their cancellation or re-issue to be made in due course. This program underscores CRH's commitment to capital return to shareholders and efficient capital management.
Key Highlights
- 1CRH plc announced a $300 million share buyback program to commence on June 30, 2021, and end by October 1, 2021.
- 2The buyback program aims to reduce CRH's share capital.
- 3The program operates under the authority to repurchase up to 10% of the company's issued ordinary shares, granted at the AGM on April 29, 2021.
- 4Societe Generale is acting as principal to conduct the buyback through non-discretionary instructions, making independent trading decisions within set parameters.
- 5Repurchased shares will be held in treasury and may be cancelled or re-issued later.
- 6The decision to conduct future buyback programs will be based on ongoing assessments of capital needs and market conditions.