CRH Plc (NYSE: CRH) disclosed that it has decided to restart the share buyback programme with a further portion of up to $300 million. CRH revealed that it has signed an agreement with Societe Generale to buy back ordinary shares on CRH’s representative for the highest possible payment of $300 million.
It has been disclosed that the Buyback will start on, 8 March 2021, and will anticipate executing no later than 24 June 2021. As per the deal, ordinary shares will be bought back on Euronext Dublin. Furthermore, CRH has signed a non-optional instruction with Societe Generale, working as a principal, to perform the Buyback on the representation of CRH and to execute trading decisions under the Buyback separately of CRH in compliance with specified pre-set limits.
The firm has disclosed that as per the buyback programme the highest possible number of shares that may be bought back under the Buyback is 50,000,000. The decision of the Buyback is to decrease the share capital of CRH.
The Buyback will at all times be performed in accordance with the relevant yearly general administrative authority awarded by investors to buy back CRH’s ordinary shares. Shares of CRH traded down -0.28% at $46.39 during the pre-market trading session of Monday.