CRH instructs Merrill Lynch on third phase of share buyback programme

CRH updated the market on the third phase of its share buyback programme on Tuesday - a one-year programme of up to €1bn of share repurchases, which it announced on 25 April.

The FTSE 100 company had announced the start of a programme to repurchase ordinary shares for a maximum consideration of €100m as the third phase of its share buyback programme on 20 November.

“CRH today announces that it has entered into non-discretionary instructions with Merrill Lynch International to conduct the Phase 3 programme on its behalf, and to make trading decisions under the Phase 3 programme independently of CRH in accordance with certain pre-set parameters,” the CRH board said in its statement.

“The other details of the Phase 3 programme, which were announced on 20 November, remain unchanged.”