8-K

CRH PUBLIC LTD CO 8-K Report (Jan 15, 2021)

Filed January 15, 2021For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K on January 15, 2021, to announce an Extraordinary General Meeting (EGM) to be held on February 9, 2021. The primary purpose of the EGM is to seek shareholder approval for the migration of CRH's shares from the UK-based CREST settlement system to the Belgian-based Euroclear Bank SA/NV system. This migration is necessitated by the UK's withdrawal from the EU, which will prevent the CREST system from continuing to provide settlement services for Irish incorporated listed companies. In addition to the share settlement migration, CRH is also seeking shareholder approval to simplify its share capital by surrendering and cancelling its Income Shares. The company has provided a shareholder circular detailing these proposals and encouraging shareholders to review it. Separate class meetings will also be held for preference shareholders to approve any changes to their rights resulting from the migration. Due to COVID-19 restrictions, CRH is strongly advising shareholders to vote by proxy and will offer a live audio-cast of the EGM with the facility for remote question submission.

Key Highlights

  • 1CRH is holding an Extraordinary General Meeting (EGM) on February 9, 2021, to vote on key corporate actions.
  • 2The main resolution concerns migrating CRH's share settlement from the UK's CREST system to Belgium's Euroclear Bank system.
  • 3This migration is a direct consequence of the UK's withdrawal from the EU and its impact on settlement services for Irish companies.
  • 4Shareholder approval is sought to ensure continued electronic settlement and eligibility for trading on the London Stock Exchange and Euronext Dublin.
  • 5CRH also plans to simplify its share capital by cancelling its Income Shares.
  • 6Preference shareholders will have separate class meetings to approve changes to their rights related to the migration.
  • 7Due to COVID-19, shareholders are urged to vote by proxy, and a remote audio-cast with Q&A will be provided.

Frequently Asked Questions

CRH is migrating its share settlement from the UK's CREST system to Belgium's Euroclear Bank system because the UK's withdrawal from the EU will soon prevent CREST from serving Irish incorporated companies. This move is necessary to ensure the continued electronic settlement of CRH shares and their eligibility for trading on major exchanges like the London Stock Exchange and Euronext Dublin.

CRH is seeking shareholder approval to simplify its share capital by surrendering and cancelling its Income Shares. The specific details and implications of this simplification are outlined in the shareholder circular provided by the company.

Due to ongoing COVID-19 restrictions, CRH strongly encourages shareholders to vote by proxy, appointing the chairman of the meeting as their proxy. The company will also provide a live audio-cast of the EGM and allow shareholders to submit questions remotely to facilitate engagement.

The Extraordinary General Meeting (EGM) is scheduled for Tuesday, February 9, 2021, at 11:00 a.m. GMT. The Class Meetings for preference shareholders will follow: the 5% Cumulative Preference Shares meeting at 12:00 p.m. GMT and the 7% 'A' Cumulative Preference Shares meeting at 12:30 p.m. GMT on the same day.