8-K

CRH PUBLIC LTD CO 8-K Report (Jul 24, 2014)

Filed July 24, 2014For Securities:CRH

Summary

CRH plc filed a Form 6-K on July 24, 2014, to report on the re-issuance of treasury shares. This filing indicates that on July 23, 2014, the company transferred a total of 17,626 ordinary shares to participants in its employee share schemes. These shares were re-issued at specific prices in both Euros (€11.18 per share) and Pounds Sterling (£11.19 and £11.36 per share), reflecting market conditions or scheme specifics. Following this transaction, CRH plc's treasury share balance reduced, and the company now holds 4,050,197 ordinary shares in treasury. The total number of outstanding ordinary shares, excluding those held in treasury, stands at 739,263,039. This event is primarily an administrative update related to employee compensation and share ownership programs, with no immediate indication of significant strategic shifts or financial performance changes for the broader investor base.

Key Highlights

  • 1CRH plc re-issued 17,626 ordinary shares from its treasury stock on July 23, 2014.
  • 2The re-issuance was to participants in the company's employee share schemes.
  • 3Shares were transferred at multiple price points: €11.18, £11.19, and £11.36 per ordinary share.
  • 4Following the transaction, CRH plc holds 4,050,197 ordinary shares in treasury.
  • 5The total number of ordinary shares outstanding (excluding treasury shares) is 739,263,039.

Frequently Asked Questions

Re-issuing treasury shares typically relates to employee stock option plans, restricted stock units, or other equity-based compensation. It allows the company to grant shares to employees without issuing new shares, thus not diluting the ownership of existing shareholders as significantly. It's a standard practice for managing employee incentives.

This specific transaction involves re-issuing shares already held by the company in treasury. Therefore, it does not increase the total number of outstanding shares in the market. While it reduces the number of shares held in treasury, the number of shares available to the public remains unchanged by this re-issuance. Actual dilution only occurs when new shares are issued.

CRH plc is an Irish-domiciled company (reporting in Euros) but has operations and employees in various regions, including the UK (reporting in Pounds Sterling). The different currency prices likely reflect the location of the employees participating in the share schemes or the specific currency denomination set for those schemes within different geographical units of the company.

Treasury shares are shares that a company has repurchased from the open market but has not yet retired or re-issued. They are not considered outstanding shares and do not have voting rights or receive dividends. Outstanding shares are those that are held by all its shareholders, including shares held by institutional investors and restricted shares held by insiders, and these carry voting rights and are entitled to dividends.