8-K

CRH PUBLIC LTD CO 8-K Report (Dec 30, 2021)

Filed December 30, 2021For Securities:CRH

Summary

CRH Public Limited Company (CRH) has announced the cancellation of 21,000,000 ordinary shares previously held as treasury shares, effective December 29, 2021. This represents approximately 2.64% of the company's issued share capital. Following this cancellation, CRH's total issued share capital now stands at 774,140,338 ordinary shares, with 3,296,859 held in treasury. The company also holds preference shares, none of which are held in treasury and do not carry voting rights. This transaction directly impacts the total number of voting rights available to shareholders. The updated figure of 770,843,479 voting rights is crucial for investors to use when calculating their notifiable interests and any changes thereof under relevant transparency regulations. This move reduces the overall share count and potentially enhances the earnings per share and ownership percentage for remaining shareholders, assuming profitability remains constant.

Key Highlights

  • 1CRH cancelled 21,000,000 ordinary shares previously held in treasury on December 29, 2021.
  • 2The cancelled shares represented 2.64% of CRH's issued share capital at the time of cancellation.
  • 3The company's total issued share capital is now 774,140,338 ordinary shares.
  • 43,296,859 ordinary shares remain held in treasury.
  • 5The total number of voting rights for CRH shareholders is now 770,843,479.
  • 6This cancellation affects shareholder calculations for reporting interests under transparency regulations.

Frequently Asked Questions

Cancelling treasury shares reduces the total number of outstanding shares. This can lead to an increase in earnings per share (EPS) and a higher percentage of ownership for remaining shareholders, assuming the company's net income remains the same. It also impacts the calculation of voting rights.

Your individual ownership percentage will slightly increase, as the total number of outstanding shares has decreased while your share count remains the same. This is because the cancelled shares are permanently removed from circulation.

Treasury shares are shares that a company has repurchased from the open market but has not yet cancelled or retired. These shares do not have voting rights and do not receive dividends. By cancelling them, CRH is permanently removing them from its capital structure.

The total number of voting rights is the denominator used by shareholders to determine if their ownership stake crosses certain thresholds, requiring them to notify CRH and regulatory bodies of their interest under transparency rules (e.g., Transparency Regulations).