8-K

CRH PUBLIC LTD CO 8-K Report (Mar 31, 2023)

Filed March 31, 2023For 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 by repurchasing 5.9 million ordinary shares on Euronext Dublin between December 19, 2022, and March 30, 2023. This brings the total cash returned to shareholders under the ongoing program to $4.3 billion since May 2018. The company also initiated a new share repurchase program with UBS A.G., London Branch, for a maximum consideration of $750 million, which will commence on March 31, 2023, and conclude no later than June 29, 2023. This $750 million tranche is the first part of a larger $3 billion program announced earlier. The repurchases will occur on the London Stock Exchange and/or Euronext Dublin, with UBS acting as principal and making independent trading decisions based on pre-set parameters. The primary purpose of these buybacks is to reduce CRH's share capital, with repurchased shares intended to be held in treasury pending cancellation or re-issue. Future buyback decisions will be contingent on the company's capital needs and prevailing market conditions.

Key Highlights

  • 1CRH completed a share buyback phase, returning $0.3 billion to shareholders.
  • 25.9 million ordinary shares were repurchased between December 19, 2022, and March 30, 2023.
  • 3Total cash returned to shareholders via buybacks now stands at $4.3 billion since May 2018.
  • 4A new share buyback program for up to $750 million has been initiated.
  • 5This $750 million program is the initial stage of a broader $3 billion buyback plan.
  • 6The buyback will take place on the London Stock Exchange and/or Euronext Dublin.
  • 7Repurchased shares will be held in treasury for potential cancellation or re-issue.

Frequently Asked Questions

As of March 30, 2023, CRH has returned a total of $4.3 billion to shareholders through its ongoing share buyback program, which commenced in May 2018.

The primary purpose of the new buyback program is to reduce CRH's share capital. The repurchased shares will be held in treasury and may be cancelled or re-issued in the future.

The new buyback program will commence on March 31, 2023, and will end no later than June 29, 2023. The ordinary shares will be repurchased on the London Stock Exchange and/or Euronext Dublin.

No, the $750 million buyback is the initial stage of a larger $3 billion program announced on March 2, 2023. Any future buyback programs will depend on an ongoing assessment of the business's capital needs and general market conditions.