LONDON (ShareCast) - (Sharecast News) - CRH announced the start of its next tranche of share buybacks on Friday, having revealed its intention to continue its share buyback programme with a further scheme of up to €350m (£317.16m) in its interim results on Thursday.
The FTSE 100 company confirmed it had entered into arrangements with Societe Generale to repurchase ordinary shares on its behalf, for a maximum consideration of €350m.

It said the buyback will begin on 26 August, and will end no later than 3 January.

Under the terms of the buyback, ordinary shares would be repurchased on Euronext Dublin.

CRH said it had entered into non-discretionary instructions with Societe Generale to conduct the buyback on its behalf, and to make trading decisions under the buyback, independently of CRH and in accordance with certain pre-set parameters.

"The purpose of the buyback is to reduce the share capital of CRH and will be conducted within the limitations of the authority granted at CRH's annual general meeting on 25 April to repurchase up to 10% of the company's ordinary shares in issue," the board said in its statement.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE