Summary
CRH plc filed a Form 6-K on October 31, 2019, to report a transaction involving its own shares. Specifically, the company re-issued treasury shares to participants in its employee share schemes. This transaction involved 16,878 Ordinary Shares, with prices varying in both Euros and Pounds Sterling, reflecting market conditions at the time of transfer. This re-issuance of shares impacts the company's treasury stock and outstanding share count. Following this event, CRH plc holds approximately 51.4 million shares in treasury, with the total number of ordinary shares in issue, excluding treasury shares, standing at nearly 792 million. Investors should note this activity as it pertains to share dilution and the company's capital structure.
Key Highlights
- 1CRH plc re-issued 16,878 treasury shares on October 30, 2019.
- 2The shares were transferred to participants in employee share schemes.
- 3Transaction prices for the Ordinary Shares varied, ranging from €16.19 to €20.825 and £15.54 to £24.51.
- 4Following the transaction, CRH plc holds 51,401,648 shares in treasury.
- 5The number of ordinary shares in issue, excluding treasury shares, is 791,988,690.
Frequently Asked Questions
Re-issuing treasury shares means CRH is using shares it previously repurchased and held in its treasury. In this case, these shares are being used to fulfill obligations under employee share schemes. This action reduces the number of shares held in treasury and increases the number of shares outstanding (excluding treasury shares).
The transaction reduced CRH's treasury shares by 16,878. The number of ordinary shares in issue (excluding treasury shares) increased by the same amount, moving from just under 791,971,812 to 791,988,690. The total number of shares in issue, including treasury shares, would have decreased.
No, these shares are not new shares being issued to the public in the traditional sense. They are existing shares that CRH had previously bought back and held. These are being transferred to employees as part of their compensation or incentive plans.
The varying price ranges in Euros and Pounds Sterling reflect the market price of CRH's shares on the day of the transaction, potentially at different times throughout the day or on different exchanges where CRH is listed. This ensures that employees receive shares valued according to the prevailing market conditions.