8-K

CRH PUBLIC LTD CO 8-K Report (Oct 17, 2019)

Filed October 17, 2019For Securities:CRH

Summary

CRH plc filed a Form 6-K on October 17, 2019, to report a transaction involving its own shares. On October 16, 2019, the company transferred 12,108 ordinary shares from treasury to participants in its employee share schemes. These shares were transferred at varying prices: €16.19 per share, and £16.16 and £14.94 per share, reflecting the different currencies of the schemes. This action is a routine part of managing its employee incentive programs and does not represent a significant strategic shift for the company's operations or financial structure. Following this transfer, CRH plc's treasury share balance decreased, with the company now holding 50,961,391 shares in treasury. The total number of ordinary shares outstanding, excluding treasury shares, stands at 792,428,947. Investors should note that the re-issuance of treasury shares is a common practice for companies to satisfy obligations under employee stock options and share purchase plans, and this event is primarily administrative rather than indicative of a change in the company's overall financial health or market valuation.

Key Highlights

  • 1CRH plc re-issued 12,108 ordinary shares from treasury on October 16, 2019.
  • 2The shares were transferred to participants in CRH's employee share schemes.
  • 3Transfer prices varied by currency: €16.19 per share, and £16.16 and £14.94 per share.
  • 4Following the transaction, CRH holds 50,961,391 ordinary shares in treasury.
  • 5The number of ordinary shares in issue (excluding treasury shares) is 792,428,947.

Frequently Asked Questions

The purpose of this transaction was to re-issue treasury shares to participants in CRH's employee share schemes. This is a common practice to fulfill obligations related to employee compensation and long-term incentives.

No, this transaction involved the re-issuance of shares from treasury, not a new share buyback program. It's the opposite of a buyback, where shares are being distributed to employees.

This transaction slightly reduces the number of shares held in treasury but does not change the total number of shares outstanding as these shares were already issued and held by the company. The number of ordinary shares in issue (excluding treasury shares) remains 792,428,947.

The different prices (€16.19 and £16.16/£14.94) reflect the currency denominations of the specific employee share schemes the shares were transferred to. This ensures that participants receive awards valued appropriately in their respective currency.