8-K

CRH PUBLIC LTD CO 8-K Report (Nov 28, 2008)

Filed November 28, 2008For Securities:CRH

Summary

This 8-K filing from CRH Public Limited Company (CRH) reports on a transaction involving the re-issuance of treasury shares. On November 26, 2008, CRH transferred 49,830 Ordinary Shares to participants in its employee share schemes. These shares were sold at prices ranging from €10.63 to €14.6563 and £7.18 to £12.38, reflecting prevailing market values at the time. This action reduces the number of shares held in treasury, impacting the total number of outstanding shares available in the market. For investors, this transaction primarily indicates continued engagement with employee incentive programs, even during potentially uncertain economic periods. The re-issuance of treasury shares is a common practice to fulfill obligations under share-based compensation plans and does not represent a new equity raise. The filing also provides an updated figure for CRH's treasury stock and the number of ordinary shares currently in issue.

Key Highlights

  • 1CRH re-issued 49,830 Ordinary Shares from treasury to employees.
  • 2The transaction occurred on November 26, 2008.
  • 3Share prices ranged from €10.63 to €14.6563 and £7.18 to £12.38.
  • 4This action is related to CRH's employee share schemes.
  • 5Following the re-issuance, CRH holds 16,420,298 Ordinary Shares in Treasury.
  • 6The total number of Ordinary Shares in issue (excluding Treasury Shares) is now 532,082,080.

Frequently Asked Questions

The re-issuance of treasury shares is a standard operational event to fulfill employee share scheme obligations. It does not involve raising new capital and generally has a neutral to slightly dilutive impact on earnings per share, depending on the number of shares re-issued relative to total outstanding shares. The filing confirms CRH's updated treasury share balance and outstanding share count.

Companies typically continue to fulfill obligations under employee share schemes regardless of market conditions to retain and incentivize their workforce. This action demonstrates CRH's commitment to its employee compensation plans and human capital management, even as it manages its treasury stock.

This transaction reduces the number of shares held by CRH in treasury and slightly increases the number of shares outstanding and available in the market. The filing provides the precise updated figures for treasury shares and shares in issue.