8-K

CRH PUBLIC LTD CO 8-K Report (Mar 26, 2020)

Filed March 26, 2020For Securities:CRH

Summary

CRH plc announced on March 26, 2020, a transaction involving its own shares, filed as a Form 6-K. The company transferred 1,118,817 ordinary shares from its treasury to the Trustees of the CRH plc Employee Benefit Trust. This transfer occurred on March 25, 2020, at a price of €19.47 per share. The purpose of this transaction was to satisfy vested awards under the CRH 2014 Performance Share Plan, which is a common practice for employee compensation and incentive programs. This action has resulted in a slight reduction in CRH's treasury shares. Following the transaction, CRH plc now holds 14,829,859 ordinary shares in treasury. The total number of ordinary shares in issue, excluding these treasury shares, stands at 784,810,479. This filing provides transparency on the company's share movements related to its employee benefit plans.

Key Highlights

  • 1CRH plc transferred 1,118,817 ordinary shares on March 25, 2020.
  • 2The shares were transferred to the Trustees of the CRH plc Employee Benefit Trust.
  • 3The transaction price was €19.47 per ordinary share.
  • 4The purpose of the transfer was to satisfy vested awards under the CRH 2014 Performance Share Plan.
  • 5Following the transaction, CRH holds 14,829,859 ordinary shares in treasury.
  • 6The total number of ordinary shares in issue (excluding treasury shares) is 784,810,479.

Frequently Asked Questions

The primary purpose of this transaction was to fulfill vested share awards granted to employees under the CRH 2014 Performance Share Plan. This is a standard way for companies to provide equity-based compensation.

This specific transaction does not change the total number of outstanding shares. It involves the re-issue of shares from treasury, meaning shares that were previously held by the company are being transferred to employees. The total number of shares in issue, excluding treasury shares, remains the relevant figure for most investor calculations.

Treasury shares are shares that a company has repurchased from the open market or, as in this case, are held aside for specific purposes like employee share plans. They are not considered outstanding for voting or dividend purposes until they are re-issued.

The price of €19.47 per share reflects the market value or the predetermined value at which the share awards vested. It's important for understanding the value of the compensation being provided to employees under the incentive plan.