Summary
CRH Public Limited Company (CRH) filed a Form 6-K report on September 23, 2010, to disclose a transaction involving its own shares. The company re-issued 394 ordinary shares from its treasury stock to participants in an employee share scheme on September 22, 2010. These shares were transferred at prices between £11.163 and £11.36 per share. This transaction is minor in scale relative to the total shares outstanding.
Key Highlights
- 1CRH plc re-issued 394 ordinary shares from treasury on September 22, 2010.
- 2The shares were transferred to participants in an employee share scheme.
- 3The transaction prices ranged from £11.163 to £11.36 per ordinary share.
- 4Following the re-issuance, CRH holds 9,755,809 ordinary shares in treasury.
- 5The total number of ordinary shares in issue, excluding treasury shares, is 708,038,702.
Frequently Asked Questions
The primary purpose of this transaction was the re-issuance of treasury shares to employees participating in CRH's employee share scheme.
This transaction involves shares already held in treasury being transferred to employees. It does not change the total number of shares outstanding, but it reduces the number of shares held in treasury and increases the number of shares held by the public (or in this case, employees).
Treasury shares are shares that a company has repurchased from the open market. They can be re-issued for various purposes, such as employee stock options, acquisitions, or to offset dilution. In this case, they are being used for an employee share scheme.
Given the small number of shares re-issued (394) relative to the total shares outstanding (over 708 million), this is a routine administrative transaction related to employee compensation and is unlikely to have a material impact on CRH's financial performance or stock price for investors.