Summary
CRH plc announced on March 6, 2018, the allotment and issuance of 59,666 new ordinary shares of €0.32 each. These shares were issued under an Employee Share Participation Scheme. This action is primarily administrative and relates to the company's ongoing employee incentive programs. An application has been made to admit these new ordinary shares to the Official Lists of the U.K. Listing Authority and the Irish Stock Exchange, as well as to the London Stock Exchange's market for listed securities and the Main Securities Market of the Irish Stock Exchange. The newly issued shares will rank pari passu (equally) with existing ordinary shares, meaning they will carry the same rights and privileges.
Key Highlights
- 1CRH plc issued 59,666 new ordinary shares.
- 2The shares have a nominal value of €0.32 each.
- 3The issuance is part of an Employee Share Participation Scheme.
- 4Applications are being made for the new shares to be admitted to the Official Lists of the UK Listing Authority and the Irish Stock Exchange.
- 5The new shares will also be listed on the London Stock Exchange and the Irish Stock Exchange's Main Securities Market.
- 6The new ordinary shares rank pari passu with existing ordinary shares.
Frequently Asked Questions
This filing (a Form 6-K, which is used by foreign private issuers) serves to announce the allotment and issuance of new ordinary shares under an employee share participation scheme and the subsequent application for their listing on stock exchanges.
These new shares will rank pari passu with existing ordinary shares, meaning they will have the same rights and entitlements. The issuance represents a small dilution, but it is a standard practice for employee incentive plans.
The new ordinary shares are being admitted to the Official Lists of the U.K. Listing Authority and the Irish Stock Exchange, and will be listed on the London Stock Exchange's market for listed securities and the Main Securities Market of the Irish Stock Exchange.
This is a routine administrative event related to employee compensation and share-based incentives. The number of shares issued is relatively small in the context of the company's total outstanding shares, so it is not expected to have a material impact on CRH's financial performance.