Summary
CRH plc (CRH) has filed a Form 6-K report detailing a transaction involving its own shares on June 25, 2015. The company re-issued 24,525 ordinary shares from its treasury to participants in its employee share schemes. These shares were transferred at varying prices, with some in Euros (€13.64) and others in British Pounds (£11.19 to £14.94). This action represents a common practice for companies to utilize treasury shares for employee compensation and incentives, aligning employee interests with shareholder value.
Key Highlights
- 1CRH plc re-issued 24,525 Ordinary Shares from treasury on June 25, 2015.
- 2The shares were transferred to participants of CRH's employee share schemes.
- 3Transaction prices varied, with some shares at €13.64 and others between £11.19 and £14.94.
- 4Following the re-issuance, CRH plc holds 1,636,763 Ordinary Shares in Treasury.
- 5The total number of Ordinary Shares in issue (excluding treasury shares) is now 821,985,721.
Frequently Asked Questions
Re-issuing treasury shares is a common corporate action often used to fulfill obligations under employee stock option plans, employee share purchase plans, or other employee incentive schemes. It allows companies to grant equity to employees without issuing new shares, which can dilute existing shareholders.
This transaction reduces the number of treasury shares by 24,525. The total number of issued shares remains the same, but the number of outstanding shares available for trading increases by the amount re-issued to employees. The report clarifies that CRH now holds 1,636,763 treasury shares and has 821,985,721 ordinary shares in issue (excluding treasury).
The varying prices indicate that the shares were likely transferred under different employee schemes or at different pricing mechanisms. Some shares were priced in Euros, suggesting they might be for employees within the Eurozone, while others were priced in Pounds Sterling, likely for employees in the UK. The specific price of €13.64 and the range of £11.19 to £14.94 would be based on the terms of the respective employee share plans in place at the time.