8-K

CRH PUBLIC LTD CO 8-K Report (Mar 25, 2021)

Filed March 25, 2021For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K report on March 25, 2021, disclosing a transaction involving its own shares. The company announced the re-issuance of treasury shares by transferring 2,918,381 Ordinary Shares to the Trustees of the CRH plc Employee Benefit Trust. This transfer was executed at a price of €37.92 per Ordinary Share and is intended to fulfill vested awards granted under the CRH 2014 Performance Share Plan. This transaction impacts CRH's outstanding share count and treasury stock. Following the transfer, CRH now holds 8,444,772 Ordinary Shares in treasury, and the number of outstanding Ordinary Shares (excluding treasury shares) stands at 786,695,566. Investors should note that this is a re-issuance of existing treasury shares for employee compensation purposes, rather than the issuance of new shares or a buyback, and does not fundamentally alter the company's financial structure but affects its share capital accounting.

Key Highlights

  • 1CRH plc transferred 2,918,381 Ordinary Shares to the CRH plc Employee Benefit Trust.
  • 2The purpose of the share transfer is to satisfy vested awards under the CRH 2014 Performance Share Plan.
  • 3The shares were transferred at a price of €37.92 per Ordinary Share.
  • 4Following the transaction, CRH holds 8,444,772 Ordinary Shares in Treasury.
  • 5The number of Ordinary Shares in issue (excluding Treasury Shares) is now 786,695,566.
  • 6This filing is made on a Form 6-K, indicating it's a report from a foreign private issuer.

Frequently Asked Questions

This is a re-issuance of treasury shares. CRH transferred shares it previously held in treasury to its Employee Benefit Trust to fulfill obligations under its Performance Share Plan for employees.

This transaction involves the re-issuance of shares already held by the company (treasury shares) to satisfy employee awards. It does not involve issuing new shares, so it is not dilutive in the sense of increasing the total number of shares outstanding beyond what was previously accounted for in treasury. It simply moves shares from treasury stock to be considered outstanding for employee compensation.

The CRH plc Employee Benefit Trust is a trust established to hold shares or assets for the benefit of employees, typically to manage and distribute equity-based compensation awards, such as those granted under the company's Performance Share Plan.

This transaction reduces the number of shares CRH holds in treasury from a previous amount to 8,444,772 Ordinary Shares. The number of outstanding shares (excluding treasury shares) increases by the number of shares transferred.