Summary
CRH Public Limited Company (CRH) has filed a Form 6-K, reporting a significant transaction involving its own shares. On December 18, 2020, the company cancelled 4,500,000 Ordinary Shares that were held in treasury. These cancelled shares represented approximately 0.56% of CRH's total issued share capital at the time. This share cancellation results in an adjustment to CRH's total issued share capital and, consequently, its total voting rights. The filing details the updated number of Ordinary Shares, Income Shares, and Preference Shares outstanding, along with the number held in treasury. For investors, this information is crucial for understanding the impact on share dilution and the total voting power available in the company.
Key Highlights
- 1CRH cancelled 4,500,000 Ordinary Shares previously held as treasury shares on December 18, 2020.
- 2The cancelled shares represented 0.56% of CRH's issued share capital at the time of cancellation.
- 3Following the cancellation, CRH's issued share capital consists of 795,140,338 Ordinary Shares and 795,140,338 Income Shares.
- 4A portion of these shares (10,089,207) are still held in treasury.
- 5The total number of voting rights for CRH is now 785,051,131, after excluding shares held in treasury and shares without voting rights.
- 6This figure is important for shareholders to use as a denominator for calculating their reporting obligations under relevant transparency regulations.
- 7The announcement complies with UK Listing Rules and Irish Transparency Regulations.
Frequently Asked Questions
This 8-K filing (submitted as a Form 6-K for foreign private issuers) is primarily to inform the SEC and the public about CRH's cancellation of treasury shares and the resulting changes in its issued share capital and total voting rights.
The cancellation of treasury shares reduces the total number of outstanding shares. In this case, a small percentage (0.56%) was cancelled. This can slightly increase the percentage ownership for remaining shareholders and may impact earnings per share calculations, although the impact is minimal given the small percentage.
Shares held in treasury are shares that a company has repurchased but has not yet retired or reissued. These shares do not carry voting rights because they are essentially held by the company itself and do not represent ownership by external shareholders.
The filing states that an Income Share is tied to each Ordinary Share. While Ordinary Shares represent ownership and voting rights, Income Shares likely relate to dividend rights or a specific class of equity. The cancellation of Ordinary Shares also implies a corresponding cancellation of their tied Income Shares. The total number of Income Shares issued matches the Ordinary Shares, with a similar number held in treasury.