01—Abstract
Summary
Summary of the 8-K filed February 23, 2024. Cited figures are marked; the original filing is the authoritative source.
CRH plc disclosed in this Form 8-K, filed February 23, 2024, a change to the listing arrangements for its two preference share classes.
Under Item 8.01 (Other Events), the company announced that its 5%a Cumulative Preference Shares (ISIN IE0001827264) and 7% "A" Cumulative Preference Shares (ISIN IE0001827603) would be cancelled from Euronext Dublin effective 08:00 GMT on February 23, 2024. The 5% Preference Shares were admitted to trading on Euronext Growth Dublin from the same time, continuing to trade under the symbol "DD8A" with an unchanged ISIN. The 7% Preference Shares remain listed and traded on the Main Market of the London Stock Exchange.
The filing is administrative in nature and does not involve a financial transaction, earnings result, or change to the operating business. The company explicitly stated that there is no change to the rights of preference shareholders as a result of the updated listing arrangements, including dividend, ranking, or redemption terms. The 5%b Preference Shares also accompanied an Information Document published on February 21, 2024, which the company stated is not a prospectus and does not constitute a comprehensive update on CRH or its group.
For investors, the practical impact is primarily about where and how the securities trade: holders of the 5%c shares move to a lower-regulation, growth-oriented venue, while holders of the 7% shares see no change in their listing venue. Investors should note that Euronext Growth is a less regulated market than the Euronext Dublin main market, so liquidity and disclosure standards may differ. The filing itself contains no new financial figures.
02—Key points
Key Highlights
- CRH plc's 5% Cumulative Preference Shares (ISIN IE0001827264) were cancelled from Euronext Dublin effective 08:00 GMT on February 23, 2024, and admitted to trading on Euronext Growth Dublin the same day.
- The 5% Preference Shares continue to trade under the symbol "DD8A" with an unchanged ISIN, so the change is largely administrative for holders.
- The 7% "A" Cumulative Preference Shares (ISIN IE0001827603) were also cancelled from Euronext Dublin but remain listed and traded on the London Stock Exchange Main Market.
- The company states there is no change to the rights of preference shareholders as a result of the new listing arrangements.
- The move to Euronext Growth Dublin is a transfer to a less regulated market segment, which may affect liquidity, disclosure requirements, and trading characteristics for 5% holders.
- The filing contains no new financial results, guidance, or operational information; it is limited to Item 8.01 (Other Events) and Item 9.01 exhibits.
- Exhibits 99.1 (February 21, 2024) and 99.2 (February 23, 2024) are the company's underlying announcements, and the 5% Information Document is not a prospectus.
03—Questions
Frequently Asked Questions
Do the changes to the preference share listings affect the dividend or rights of holders?
No. CRH stated in its February 23, 2024 announcement that there will be no change to the rights of holders of either preference share class as a result of the updated listing arrangements. The change concerns the trading venue, not the economic or legal terms of the shares.
Why did CRH move the 5% Preference Shares to Euronext Growth Dublin?
The filing does not explicitly state the rationale. The company's February 21, 2024 announcement, which references an earlier January 24, 2024 announcement, indicates a proposed admission to trading on Euronext Growth Dublin with an accompanying Information Document. Investors seeking the reasoning should review those announcements and the Information Document on CRH's website.
Will the 7% Preference Shares still be traded?
Yes. The 7% "A" Cumulative Preference Shares remain listed and admitted to trading on the Main Market of the London Stock Exchange. Only their Euronext Dublin listing was cancelled.
What should investors consider about trading on Euronext Growth Dublin?
Euronext Growth is a market segment designed for growth-oriented companies and generally operates under lighter regulatory requirements than the main market. Investors may face differences in disclosure obligations, liquidity, and price transparency compared with the prior Euronext Dublin listing. The Information Document is explicitly not a prospectus, so investors should review it carefully and consider these differences before trading.
Does this filing contain any new financial information about CRH?
No. The 8-K is limited to Item 8.01 (Other Events) regarding preference share listings and attaches two press announcements. It contains no earnings, balance sheet, guidance, or operating data, and the company notes that its website content is not incorporated into the filing.
04—Continue