Between 30 June and 27 September 2021, 6 million ordinary shares were repurchased on Euronext Dublin at an average discount of 0.91% to the volume-weighted average price over the period.
This brings total cash returned to shareholders under our ongoing share buyback programme to $2.6 billion since its commencement in May 2018.
CRH says it has also entered into arrangements with UBS A.G., London Branch (UBS) to repurchase ordinary shares on CRH’s behalf for a consideration of up to $300 million (the Buyback). The Buyback began on 30 September 2021 and will end no later than 23 December 2021.
Under the terms of the Buyback, ordinary shares will be repurchased on Euronext Dublin. CRH has entered into non-discretionary instructions with UBS, acting as principal, to conduct the Buyback on CRH’s behalf and make trading decisions under the Buyback independently of CRH according to certain pre-set parameters.
The purpose of the Buyback is to reduce the share capital of CRH. It will be conducted within the limitations of the authority granted at CRH’s AGM on 29 April 2021 to repurchase up to 10% of the Company’s ordinary shares in issue (being 60,675,125 ordinary shares following the completion of the latest phase of the buyback programme).
The Buyback will also be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the UK, from time to time, including, where relevant, under the UK’s Market Abuse (Amendment) (EU Exit) Regulations 2019) and Chapter 12 of the UK Financial Conduct Authority’s Listing Rules. The repurchased ordinary shares will be held in treasury pending their cancellation or re-issue in due course.
Any decision about any future buyback programmes will be based on an ongoing assessment of the capital needs of the business and general market conditions.
