Between 24 December 2021 and 16 March 2022, 6.1 million ordinary shares were repurchased on Euronext Dublin at an average discount of 1.43% to the volume weighted average price over the period.
This brings total cash returned to shareholders under our ongoing share buyback programme to $3.2 billion since its commencement in May 2018.
CRH today also announces that it has entered into arrangements with Societe Generale to repurchase ordinary shares on CRH's behalf for a maximum consideration of $300m (the 'Buyback'). The Buyback has gotten underway and will end no later than 27 June 2022.
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Under the terms of the Buyback, ordinary shares will be repurchased on Euronext Dublin. CRH has entered into non-discretionary instructions with Societe Generale, acting as principal, to conduct the Buyback on CRH's behalf and to make trading decisions under the Buyback independently of CRH in accordance with certain pre-set parameters.
The maximum number of ordinary shares that may be repurchased under the Buyback is 45,000,000. The purpose of the Buyback is to reduce the share capital of CRH. The Buyback will at all times be conducted in accordance with the applicable annual general authorities granted by shareholders to repurchase CRH's ordinary shares. 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, pursuant to 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 in relation to any future buyback programmes will be based on an ongoing assessment of the capital needs of the business and general market conditions.
