Summary
CRH Public Limited Company (CRH) filed a Form 6-K on July 9, 2015, reporting a transaction involving its own shares. The company re-issued treasury shares to participants in its employee share schemes. This action is a standard practice for companies to fulfill obligations related to employee compensation and long-term incentives. While not a major strategic announcement, it provides insight into the company's capital management and employee engagement practices.
Key Highlights
- 1CRH plc re-issued 7,426 Ordinary Shares from treasury to participants in its employee share schemes.
- 2The re-issuance occurred on July 8, 2015.
- 3The Ordinary Shares were transferred at prices of €14.79 per share in Euros and between £11.19 and £13.13 per share in British Pounds.
- 4Following these transactions, CRH plc's treasury share balance is 1,562,099 Ordinary Shares.
- 5The total number of Ordinary Shares in issue, excluding treasury shares, is 822,060,385.
Frequently Asked Questions
Re-issuing treasury shares is typically done to satisfy obligations under employee share schemes, such as stock options or awards. It allows the company to provide equity-based compensation to its employees without issuing new shares, which could dilute existing shareholders. This action demonstrates the company's commitment to its employee incentive programs.
This transaction reduces the number of shares held in treasury and increases the number of shares outstanding by the amount re-issued. The filing specifies that 7,426 shares were re-issued, bringing the treasury share balance down to 1,562,099 shares and keeping the number of shares in issue at 822,060,385 (excluding treasury shares).
The different currency prices reflect that CRH plc operates internationally and likely has employee share schemes denominated or settled in different currencies. The Euro price is specific to the shares transferred in Euros, while the Sterling prices apply to shares transferred in British Pounds, likely for employees in the UK.