8-K

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

Filed August 8, 2019For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed a Form 6-K on August 8, 2019, reporting a transaction in its own shares. The company re-issued treasury shares to participants in its employee share schemes. This action is a routine part of managing employee compensation and incentives, involving the transfer of existing shares rather than the issuance of new ones. Investors should note that this type of transaction does not dilute existing ownership but rather utilizes shares already held by the company. Specifically, CRH transferred 35,588 Ordinary Shares on August 7, 2019. The prices for these shares varied, ranging from €17.67 to €20.825 and from £14.94 to £24.51, reflecting market conditions or specific scheme rules. Following this re-issuance, CRH's treasury share balance stands at 46,371,180 Ordinary Shares, with 797,019,158 Ordinary Shares remaining in issue. This filing provides transparency on the company's share capital structure and its management of employee equity programs.

Key Highlights

  • 1CRH plc re-issued 35,588 Ordinary Shares from its treasury to employees participating in share schemes on August 7, 2019.
  • 2The share re-issuance involved various price points, including €17.67 to €20.825 and £14.94 to £24.51 per share.
  • 3This transaction utilizes existing treasury shares, meaning no new shares were created, thus no dilution for existing shareholders.
  • 4Following the transaction, CRH holds 46,371,180 Ordinary Shares in Treasury.
  • 5The total number of Ordinary Shares in issue, excluding treasury shares, is now 797,019,158.
  • 6The filing is a Form 6-K, indicating it's a report from a foreign private issuer providing information available to its primary listing exchange.

Frequently Asked Questions

Re-issuing treasury shares is a common practice for companies to satisfy obligations under employee share schemes, such as stock options or awards. It allows the company to provide equity-based compensation without diluting existing shareholders by creating new shares. The shares are effectively transferred from the company's own holdings to employees.

No, this transaction does not impact the total number of shares outstanding. It involves moving shares already held by the company in its treasury to employees. The number of shares in issue (excluding treasury shares) remains the same from an economic ownership perspective, though the treasury share count decreases.

The varying prices reflect the different currencies and potentially different valuation mechanisms or vesting conditions associated with the various employee share schemes. Some shares were priced in Euros and others in Pounds Sterling, and the specific price may be tied to the share price at the time of grant or exercise, or based on a formula defined within the respective employee benefit plan.

A Form 6-K is a report of foreign private issuers that is both required by the U.S. Securities and Exchange Commission (SEC) and filed by the issuer with the SEC. It is typically used to furnish information that the issuer has made or is required to make public pursuant to the law of its home country or the law of the country of its incorporation, or that it has filed or is required to file with a stock exchange on which it is traded, or made or is required to make available to its security holders.