Summary
CRH plc, an international building materials group, has announced a transaction involving the repurchase of its own shares. On January 15, 2008, UBS Limited, acting on behalf of CRH, purchased 57,324 ordinary shares at prices ranging from EUR22.53 to EUR23.618 per share. These repurchased shares will be held as treasury shares. Following this buyback, CRH plc now holds a total of 592,299 ordinary shares in treasury. The company's total number of outstanding shares, excluding treasury shares, stands at 546,634,895. This announcement provides transparency on share capital management and indicates the company's ongoing strategy regarding its own stock.
Key Highlights
- 1CRH plc executed a share repurchase program on January 15, 2008.
- 2UBS Limited purchased 57,324 ordinary shares on behalf of CRH plc.
- 3The purchase price per share ranged between EUR22.53 and EUR23.618.
- 4The repurchased shares will be held as treasury shares.
- 5CRH plc's total treasury shareholding is now 592,299 ordinary shares.
- 6The number of outstanding ordinary shares (excluding treasury shares) is 546,634,895.
Frequently Asked Questions
The company is engaging in a share repurchase program, which can be used for various strategic purposes such as returning capital to shareholders, offsetting dilution from stock options, or indicating management's confidence in the company's valuation.
CRH plc repurchased 57,324 ordinary shares at prices between EUR22.53 and EUR23.618 per share.
Treasury shares are shares that a company has repurchased from the open market but has not yet retired. They are no longer considered outstanding for calculating earnings per share (EPS) or voting rights, but they can be reissued or used for employee stock plans in the future.
The buyback increases the number of treasury shares to 592,299. Crucially, the number of outstanding shares available to the public for trading is reduced to 546,634,895, which could potentially increase earnings per share if profits remain constant.