8-K

CRH PUBLIC LTD CO 8-K Report (Sep 26, 2023)

Filed September 26, 2023For Securities:CRH

Summary

This filing from CRH Public Limited Company (CRH) on September 26, 2023, reports a notification of major holdings by The Goldman Sachs Group, Inc. The notification details changes in Goldman Sachs's stake in CRH, specifically an acquisition or disposal of financial instruments that led to a change in their total voting rights and holdings. As of September 18, 2023, Goldman Sachs's total position in CRH, including direct voting rights and rights through financial instruments, stands at approximately 2.50%. This represents a decrease from their previous notification, where their total position was around 5.12%. The change is primarily driven by a reduction in holdings via financial instruments, particularly a decrease in securities lending and various futures and swap contracts.

Key Highlights

  • 1The Goldman Sachs Group, Inc. has notified a change in its major holdings in CRH PLC.
  • 2As of September 18, 2023, Goldman Sachs's total voting rights and holdings in CRH amount to approximately 2.496539%.
  • 3This represents a decrease from their previous notification, where their total stake was approximately 5.122988%.
  • 4The change is largely due to a reduction in holdings through financial instruments, including securities lending, options, swaps, and futures.
  • 5Direct voting rights held by Goldman Sachs through shares stand at 0.673318%.
  • 6Holdings through financial instruments (securities lending, options, swaps, futures) account for approximately 1.823221%.

Frequently Asked Questions

This Form 6-K filing is a notification of major shareholdings by The Goldman Sachs Group, Inc., detailing changes in their aggregate voting rights and holdings in CRH PLC. It is triggered by an acquisition or disposal of financial instruments that crossed a notification threshold.

Goldman Sachs's total position (direct shares plus financial instruments) in CRH has decreased. As of September 18, 2023, their total holding is approximately 2.50%, down from approximately 5.12% in their previous notification.

The reduction in Goldman Sachs's stake is primarily related to financial instruments. This includes a decrease in securities lending, and various option, swap, and future contracts with different expiration dates, indicating a reduction in their exposure through these derivative instruments.

While a decrease in a major holder's stake is noteworthy, the filing represents a change in the holdings of one financial institution. Investors should consider this within the broader context of CRH's overall shareholder base and market activity to assess its impact on the company's ownership structure.