8-K

CRH PUBLIC LTD CO 8-K Report (Oct 31, 2023)

Filed October 31, 2023For Securities:CRH

Summary

CRH Public Limited Company has filed a Form 6-K reporting a transaction involving its own shares. On October 31, 2023, the company re-issued treasury shares to participants in its employee share schemes. A total of 6,891 ordinary shares were transferred at a price of €23.39 per share for some, and at prices ranging between £20.11 and £31.04 per share for others. This transaction is a standard practice for many public companies to fulfill obligations related to employee compensation and incentive programs. Following this re-issuance, CRH plc's treasury share balance has been updated. The company now holds 41,209,278 ordinary shares in treasury. The total number of ordinary shares currently outstanding, excluding those held in treasury, stands at 704,812,890. Investors should note that these types of transactions do not typically represent a fundamental change in the company's operational performance or financial health but rather a reallocation of existing equity for employee benefits.

Key Highlights

  • 1CRH plc re-issued 6,891 ordinary shares from its treasury to employees.
  • 2Share transfers occurred on October 31, 2023.
  • 3Transaction prices varied, with some shares at €23.39 and others between £20.11 and £31.04.
  • 4These shares were transferred to participants in employee share schemes.
  • 5CRH plc's treasury share balance is now 41,209,278 shares.
  • 6The number of outstanding ordinary shares (excluding treasury) is 704,812,890.

Frequently Asked Questions

Re-issuing treasury shares is a common practice for companies to fulfill obligations under employee stock option plans, restricted stock units, or other employee share-based compensation programs. It allows the company to issue new shares to employees without diluting existing shareholders' equity as significantly as issuing entirely new shares would.

No, this transaction involves the re-issuance of shares that CRH previously repurchased and held in its treasury. It is not an issuance of new shares for the purpose of raising capital from external investors.

This transaction reduces the number of shares held in treasury by 6,891. The total number of shares in issue (excluding treasury shares) remains the same as the shares were simply moved from treasury stock to employee participants.

The varying prices reflect different currencies (Euro and Pound Sterling) and potentially different award agreements or grant dates for the employee share schemes. This is typical for multinational companies with employee participation across different regions.