8-K

CRH PUBLIC LTD CO 8-K Report (Jul 15, 2016)

Filed July 15, 2016For Securities:CRH

Summary

This Form 6-K filing by CRH Public Limited Company (CRH) reports a significant change in substantial shareholdings. On July 14, 2016, CRH was notified that Baillie Gifford & Co and Baillie Gifford Overseas Limited, acting as discretionary investment managers for their clients, disposed of a portion of their ordinary shares in CRH. Specifically, the notifiable event occurred on July 12, 2016. Immediately before the disposal, Baillie Gifford entities held 33,719,499 ordinary shares. Following the disposal, their holding decreased to 33,171,299 ordinary shares. This represents a net reduction of 548,200 shares in their aggregate interest.

Key Highlights

  • 1CRH plc filed a Form 6-K report on July 14, 2016.
  • 2The report details a disposal of ordinary shares by Baillie Gifford & Co and Baillie Gifford Overseas Limited.
  • 3These entities act as discretionary investment managers for their clients.
  • 4The disposal event date was July 12, 2016.
  • 5Immediately prior to the disposal, the total shareholding was 33,719,499 ordinary shares.
  • 6Following the disposal, the total shareholding was 33,171,299 ordinary shares.
  • 7The net reduction in shares held by Baillie Gifford was 548,200.

Frequently Asked Questions

Baillie Gifford & Co is a Scottish partnership, and Baillie Gifford Overseas Limited is its wholly-owned subsidiary. Both entities operate as investment managers, managing client portfolios under discretionary investment agreements.

The event reported was a disposal of ordinary shares in CRH by Baillie Gifford & Co and Baillie Gifford Overseas Limited on behalf of their clients.

Baillie Gifford & Co and Baillie Gifford Overseas Limited disposed of a net of 548,200 ordinary shares. Their holding decreased from 33,719,499 shares to 33,171,299 shares.

While a disposal of over half a million shares by a major investment manager is noteworthy, it represents a relatively small percentage change in their overall holding. Investors would need to consider the context of Baillie Gifford's total AUM and their overall investment strategy to determine the broader implications.