DUBLIN–(BUSINESS WIRE)–CRH plc, the leading provider of building materials solutions, is pleased to announce that it has completed the latest phase of its share buyback program, returning a further $0.3 billion of cash to shareholders.
Between February 29, 2024 and May 9, 2024, 3.7 million ordinary shares listed on the New York Stock Exchange were repurchased. This brings total cash returned to shareholders under our ongoing share buyback program to $7.6 billion since its commencement in May 2018.
CRH (NYSE:) today also announces that it has entered into an arrangement with HSBC Securities (USA) Inc. (HSBC) to repurchase ordinary shares listed on the New York Stock Exchange on CRH’s behalf for an aggregate maximum consideration of up to $0.3 billion (the Buyback). The Buyback will commence today, May 10, 2024, and will end no later than August 7, 2024.
HSBC will conduct the Buyback on CRH’s behalf and will make trading decisions under the Buyback independently of CRH in accordance with certain pre-set parameters. The maximum number of ordinary shares which may be acquired pursuant to the Buyback is 60,000,000. The purpose of the Buyback is to reduce the share capital of CRH.
The Buyback will be conducted within the parameters prescribed by (i) Rule 10b5-1 and Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended and (ii) the EU Market Abuse Regulation (596/2014) and Commission Delegated Regulation (EU) 2016/1052 as such legislation forms part of the law in the United Kingdom (UK) pursuant to the EU (Withdrawal) Act 2018 (as may be amended and/or supplemented from time to time). No repurchases will be made outside of the United States. The repurchased ordinary shares will be cancelled.
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Any decision in relation to any future buyback program will be based on an ongoing assessment of the capital needs of the business and general market conditions.
About CRH
CRH (NYSE: CRH, LSE: CRH) is the leading provider of building materials solutions that build, connect and improve our world. Employing approximately 78,500 people at approximately 3,390 operating locations in 28 countries, CRH has market leadership positions in both North America and Europe. As the essential partner for transportation and critical utility infrastructure projects, complex non-residential construction and outdoor living solutions, CRH’s unique offering of materials, products and…
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