8-K

CRH PUBLIC LTD CO 8-K Report (Sep 25, 2023)

Filed September 25, 2023For Securities:CRH

Summary

CRH plc announced the completion of its primary listing of ordinary shares on the New York Stock Exchange (NYSE) on September 25, 2023. This significant event marks a major shift in the company's trading profile, moving its main listing to the US market. In conjunction with the NYSE listing, CRH has terminated its American Depositary Shares (ADS) program and delisted its ADSs from the NYSE. All previously outstanding ADSs have been mandatorily exchanged for the underlying ordinary shares. Furthermore, CRH has adjusted its other listings. Its ordinary shares have moved from a premium to a standard listing on the London Stock Exchange. The secondary listing on Euronext Dublin and its admission for trading on Euronext Dublin have been cancelled. These changes, approved by shareholders in June 2023, include amendments to CRH's Articles of Association to align with new clearing and settlement procedures for its ordinary shares.

Key Highlights

  • 1CRH plc has successfully completed its primary listing of ordinary shares on the New York Stock Exchange (NYSE) as of September 25, 2023.
  • 2The company terminated its American Depositary Shares (ADS) program and delisted ADSs from the NYSE.
  • 3All outstanding ADSs were mandatorily exchanged for CRH ordinary shares.
  • 4CRH's listing on the London Stock Exchange has been reclassified from a premium to a standard listing.
  • 5The secondary listing and trading admission on Euronext Dublin have been cancelled.
  • 6CRH's Articles of Association were amended to reflect changes in clearing and settlement for ordinary shares.
  • 7Shareholder approval for the amended Articles of Association was obtained in an extraordinary general meeting on June 8, 2023.

Frequently Asked Questions

The primary implication for investors is the migration of CRH's main listing to the New York Stock Exchange, which could potentially increase liquidity and access to a broader pool of US-based investors. This move also signifies CRH's strategic shift to align more closely with the North American market.

CRH terminated its ADS program and delisted its ADSs from the NYSE. All previously issued ADSs were mandatorily exchanged for the underlying ordinary shares that they represented. Investors who held ADSs now hold CRH ordinary shares.

CRH's listing on the London Stock Exchange has moved from a premium to a standard listing. Additionally, the company has cancelled its secondary listing on Euronext Dublin and its admission for trading on that exchange. These changes streamline CRH's listing profile.

For existing ADS holders, the exchange for ordinary shares was mandatory. For shareholders holding ordinary shares directly, the primary impact relates to the change in listing venue and amended Articles of Association governing clearing and settlement, which were approved by shareholders in advance.