TIDMCRH
RNS Number : 1489C
CRH PLC
08 June 2023
Press Release
Transition to US Primary Listing Approved
CRH plc, the leading provider of building materials solutions,
is pleased to announce that shareholders overwhelmingly approved
the unanimous recommendation of the Board and management team to
transition to a US primary listing on the New York Stock Exchange
(NYSE) at an Extraordinary General Meeting held earlier today.
The Group will retain a standard listing on the London Stock
Exchange (LSE) and will de-list from Euronext Dublin. The changes
are expected to take effect on or around 25 September 2023.
We believe a US primary listing will bring increased commercial,
operational and acquisition opportunities for our business, further
accelerating our successful integrated solutions strategy and
delivering even higher levels of profitability, returns and cash
for our shareholders.
North America represents approximately 75% of Group EBITDA and
the US is expected to be a key driver of future growth for CRH due
to continued economic expansion, a growing population and
significant construction needs.
As the leading building materials solutions business in North
America, CRH is uniquely positioned to capitalise on the strong
growth opportunities in the US construction market, underpinned by
long-term structural tailwinds from federal, state and municipal
funding support.
Albert Manifold, Chief Executive of CRH, said: "We are pleased
to see such strong shareholder support for the listing transition
as it marks an important milestone in our development and will
enable CRH to fully participate in the significant growth
opportunities that lie ahead".
****
Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Albert Manifold Chief Executive
Jim Mintern Chief Financial Officer
Frank Heisterkamp Director of Capital Markets
& ESG
Tom Holmes Head of Investor Relations
About CRH
CRH (LSE: CRH, ISE: CRG, NYSE: CRH) is the leading provider of
building materials solutions that build, connect and improve our
world. Employing c.75,800 people at c.3,160 locations in 29
countries, CRH has market leadership positions in both North
America and in Europe. As the essential partner for road and
critical utility infrastructure, commercial building projects and
outdoor living solutions, CRH's unique offering of materials,
products and value-added services helps to deliver a more resilient
and sustainable built environment. A Fortune 500 company, CRH is a
constituent member of the FTSE 100 Index, the EURO STOXX 50 Index,
the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe.
The company is ranked among sector leaders by Environmental, Social
and Governance (ESG) rating agencies. CRH's American Depositary
Shares are listed on the NYSE. For more information visit
www.crh.com .
Disclaimer / Forward-Looking Statements
In order to utilise the "Safe Harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995, CRH public
limited company (the "Company"), and its subsidiaries
(collectively, "CRH" or the "Group") is providing the following
cautionary statement.
This document contains statements that are, or may be deemed to
be forward-looking statements with respect to the financial
condition, results of operations, business, viability and future
performance of CRH and certain plans and objectives of CRH,
including but not limited to the statements regarding the expected
execution and/or anticipated benefits of a transition to a US
primary listing. These forward-looking statements may generally,
but not always, be identified by the use of words such as "will",
"believe", "continues", "is expected to", or similar expressions.
These forward-looking statements include all matters that are not
historical facts or matters of fact at the date of this
document.
Forward-looking statements are subject to risks, uncertainties
and other factors because they relate to events and depend on
circumstances that may or may not occur in the future and/or are
beyond the Company's control or precise estimate. Such risks,
uncertainties and other factors include, but are not limited to,
plans and expectations related to the execution and anticipated
financial and operational results of a US primary listing,
expectations related to the US as a driver for future growth, and
plans and expectations related to government policies. There are
important factors, risks and uncertainties that could cause actual
outcomes and results to be materially different, including risks
and uncertainties relating to CRH described under "Principal Risks
and Uncertainties (Risk Factors)" of the Company's Annual Report
and Form 20-F for the year ended December 31, 2022.
You are cautioned not to place undue reliance on any
forward-looking statements. These forward-looking statements are
made as of the date of this document. The Company expressly
disclaims any obligation or undertaking to publicly update or
revise these forward-looking statements other than as required by
applicable law.
The forward-looking statements in this document do not
constitute reports or statements published in compliance with any
of Regulations 6 to 8 of the Transparency (Directive 2004/109/EC)
Regulations 2007 (as amended).
Registered Office: No 12965. Registered Office: 42 Fitzwilliam
Square, Dublin 2, R02 R279, Ireland
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MSCUPUGUQUPWGWR
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June 08, 2023 09:20 ET (13:20 GMT)
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