8-K

CRH PUBLIC LTD CO 8-K Report (Jun 16, 2022)

Filed June 16, 2022For Securities:CRH

Summary

CRH Public Limited Company (CRH) has announced the completion of a recent phase of its share buyback program, returning an additional $0.3 billion to shareholders. This action, which occurred between March 17, 2022, and June 15, 2022, involved the repurchase of 7.6 million ordinary shares on Euronext Dublin at an average discount. This brings the total cash returned to shareholders through the ongoing buyback program to $3.5 billion since its inception in May 2018. Furthermore, CRH has initiated a new share repurchase program with UBS AG, London Branch, for up to $300 million, commencing June 16, 2022, and concluding by September 30, 2022. These repurchases will be conducted on Euronext Dublin under non-discretionary instructions. The primary objective of these buybacks is to reduce CRH's share capital, operating within the authority granted by shareholders and adhering to relevant EU and UK market regulations. Repurchased shares will be held in treasury for potential cancellation or re-issuance.

Key Highlights

  • 1CRH completed a share buyback program phase, returning $0.3 billion to shareholders between March 17, 2022, and June 15, 2022.
  • 2A total of 7.6 million ordinary shares were repurchased during this phase on Euronext Dublin.
  • 3The average discount on repurchased shares was 1.63% to the volume weighted average price.
  • 4Since May 2018, CRH has returned a cumulative $3.5 billion to shareholders via its buyback program.
  • 5A new share buyback program of up to $300 million has been initiated with UBS AG, commencing June 16, 2022, and ending by September 30, 2022.
  • 6The new buyback will be conducted on Euronext Dublin and aims to reduce share capital.
  • 7Repurchased shares will be held in treasury for potential cancellation or re-issue.

Frequently Asked Questions

The primary purpose of CRH's share buyback program is to reduce the company's share capital and return value to shareholders.

Since its commencement in May 2018, CRH has returned a total of $3.5 billion to shareholders through its ongoing share buyback program.

The new share buyback program will commence on June 16, 2022, and will end no later than September 30, 2022, with a maximum consideration of $300 million.

The shares are being repurchased on Euronext Dublin. CRH has entered into non-discretionary instructions with UBS AG, London Branch, which will conduct the buyback and make trading decisions independently within pre-set parameters.