8-K

CRH PUBLIC LTD CO 8-K Report (Mar 10, 2023)

Filed March 10, 2023For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K to report on transactions involving its own shares, specifically the re-issue of treasury shares. On March 9, 2023, the company transferred a total of 3,040,912 ordinary shares from its treasury stock. A portion of these shares (1,860) were transferred to participants in an employee share scheme at a price of €16.19 per share. The majority of the shares (3,032,052) were transferred to the Trustees of the CRH plc Employee Benefit Trust at a price of €48.735 per share to satisfy vested awards under the CRH 2014 Performance Share Plan. These transactions have resulted in CRH holding 7,202,390 ordinary shares in treasury. The total number of ordinary shares currently in issue, excluding treasury shares, stands at 744,937,948. This filing primarily provides transparency on the company's share capital movements related to employee compensation and share plans, which is important for understanding potential dilution and shareholding structure.

Key Highlights

  • 1CRH plc re-issued treasury shares on March 9, 2023.
  • 21,860 ordinary shares were transferred to employee share scheme participants at €16.19 per share.
  • 33,032,052 ordinary shares were transferred to the CRH plc Employee Benefit Trust at €48.735 per share.
  • 4The shares transferred to the Employee Benefit Trust are to satisfy vested awards under the CRH 2014 Performance Share Plan.
  • 5Following these transactions, CRH holds 7,202,390 ordinary shares in treasury.
  • 6The total number of ordinary shares in issue (excluding treasury shares) is 744,937,948.

Frequently Asked Questions

The primary purpose of this Form 6-K filing is to report on CRH plc's transactions involving its own shares, specifically the re-issue of shares held in treasury. This includes transfers to employee share schemes and an employee benefit trust.

The re-issued treasury shares were used for two main purposes: a portion was transferred to participants in an employee share scheme, and the larger portion was transferred to the Trustees of the CRH plc Employee Benefit Trust to fulfill vested awards granted under the CRH 2014 Performance Share Plan.

These transactions involved re-issuing shares from CRH's treasury stock, not issuing new shares. Therefore, the total number of ordinary shares in issue, excluding treasury shares, remains 744,937,948. The number of shares held in treasury has decreased from previous levels to 7,202,390.

The different prices reflect the specific purpose of each transfer. The lower price of €16.19 per share for the employee share scheme likely relates to a specific plan's pricing mechanism, while the higher price of €48.735 per share for the Employee Benefit Trust is used to satisfy vested awards under the Performance Share Plan, often tied to the market value or a determined value at the time of vesting.