Summary
CRH Public Limited Company (CRH) has filed a Form 6-K, reporting on a share repurchase program. On February 12, 2008, the company, through its agent Davy, repurchased 120,000 ordinary shares at prices ranging from EUR24.01 to EUR24.93 per share. These repurchased shares will be held as treasury shares. Following this transaction, CRH now holds 4,051,475 ordinary shares in treasury. The total number of ordinary shares outstanding, excluding treasury shares, stands at 543,175,719. This action signals management's confidence in the company's valuation and a commitment to returning value to shareholders through share buybacks.
Key Highlights
- 1CRH plc conducted a share repurchase on February 12, 2008.
- 2120,000 ordinary shares were purchased.
- 3The purchase price per share ranged between EUR24.01 and EUR24.93.
- 4The repurchased shares will be held as treasury shares.
- 5CRH plc now holds a total of 4,051,475 ordinary shares in treasury.
- 6The number of outstanding ordinary shares (excluding treasury shares) is 543,175,719.
Frequently Asked Questions
Holding shares in treasury typically indicates that a company may use these shares for future purposes such as employee stock options, acquisitions, or to offset dilution. It also represents a reduction in the number of shares outstanding for earnings per share calculations, potentially boosting that metric.
Share repurchases can be a signal that management believes the company's stock is undervalued. It's also a way to return capital to shareholders and can increase shareholder value by reducing the number of outstanding shares, thereby potentially increasing earnings per share (EPS) and return on equity (ROE).
A Form 6-K is a report of foreign private issuers that are required to furnish information to the U.S. Securities and Exchange Commission (SEC). It's used to provide public disclosure of information that the issuer has made or is required to make public in its home country, has filed or is required to file with a stock exchange, or has distributed or is required to distribute to its security holders.
The total value of the shares repurchased can be estimated. With 120,000 shares bought at prices between EUR24.01 and EUR24.93, the approximate total cost would be between EUR2,881,200 (120,000 * 24.01) and EUR2,991,600 (120,000 * 24.93).