8-K

CRH PUBLIC LTD CO 8-K Report (Jun 28, 2019)

Filed June 28, 2019For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed a Form 6-K on June 28, 2019, reporting a transaction in its own shares. Specifically, the company re-issued treasury shares to participants in an employee share scheme on June 27, 2019. This action involved the transfer of 21,900 ordinary shares at varying prices, ranging from £14.94 to £24.51 per share. This event is noteworthy for investors as it relates to the company's capital structure and its commitment to employee incentives. The re-issuance of treasury shares effectively reduces the number of shares held in treasury and increases the number of shares outstanding (excluding treasury shares), which can have implications for earnings per share calculations and overall share count. The specific prices at which these shares were transferred may also provide insights into the market valuation perceived by the company for its employee compensation programs.

Key Highlights

  • 1CRH plc re-issued 21,900 ordinary shares from treasury on June 27, 2019.
  • 2These shares were transferred to participants in an employee share scheme.
  • 3The transaction involved varying share prices, between £14.94 and £24.51 per ordinary share.
  • 4Following this transaction, CRH plc holds 42,344,034 ordinary shares in treasury.
  • 5The number of outstanding ordinary shares (excluding treasury shares) is now 801,046,304.

Frequently Asked Questions

Re-issuing treasury shares means the company is transferring shares it previously repurchased back into circulation. For investors, this can affect the number of outstanding shares, potentially impacting metrics like earnings per share (EPS) if not managed proportionally with earnings. It also indicates the company is using its own stock for employee compensation or other corporate purposes.

The varying prices likely reflect the terms of the employee share scheme, which may be tied to factors such as the average share price over a certain period, the share price on the grant date, or performance-based vesting conditions. This approach allows the company to reward employees based on their contributions and the company's performance without needing a single, fixed price for all participants.

This specific transaction decreases the number of shares held in treasury by 21,900 and increases the number of outstanding shares (excluding treasury shares) by the same amount. The total number of shares in issue (including treasury shares) remains the same, but the composition changes.

After the reported transaction on June 27, 2019, CRH plc holds 42,344,034 ordinary shares in treasury.