8-K

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

Filed June 8, 2023For Securities:CRH

Summary

CRH plc has announced that its shareholders have overwhelmingly approved a transition to a primary listing on the New York Stock Exchange (NYSE). This strategic move, supported by the Board and management, is expected to take effect around September 25, 2023. While CRH will maintain a standard listing on the London Stock Exchange (LSE), it will delist from Euronext Dublin. The company believes this shift will unlock significant commercial, operational, and acquisition opportunities, aligning with its integrated solutions strategy and aiming to enhance shareholder profitability, returns, and cash generation. A primary US listing is particularly strategic given that North America, driven by the US market, currently accounts for approximately 75% of CRH's EBITDA and is anticipated to be a key growth engine.

Key Highlights

  • 1Shareholder approval overwhelmingly granted for a transition to a primary listing on the New York Stock Exchange (NYSE).
  • 2The transition is expected to be completed on or around September 25, 2023.
  • 3CRH will retain a standard listing on the London Stock Exchange (LSE).
  • 4The company will delist from Euronext Dublin as part of the transition.
  • 5Management anticipates the US primary listing will drive increased commercial, operational, and acquisition opportunities.
  • 6North America, particularly the US, is a significant focus, representing about 75% of Group EBITDA and seen as a key future growth driver.
  • 7The move aims to accelerate CRH's integrated solutions strategy and enhance shareholder value through improved profitability, returns, and cash flow.

Frequently Asked Questions

CRH is transitioning to a primary listing on the NYSE to unlock increased commercial, operational, and acquisition opportunities. The company believes this move will better position it to capitalize on the significant growth prospects in the US, which is its largest market (approximately 75% of EBITDA) and a key driver for its integrated solutions strategy and future profitability.

Yes, CRH will maintain a standard listing on the London Stock Exchange (LSE). However, it will delist from Euronext Dublin as part of this transition.

The company expects the transition to take effect on or around September 25, 2023.

CRH anticipates that the US primary listing will lead to higher levels of profitability, improved returns, and increased cash generation for shareholders. The company believes it will be better positioned to accelerate its growth strategy and benefit from opportunities in the US market.