8-K

CRH PUBLIC LTD CO 8-K Report (Feb 22, 2008)

Filed February 22, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K report detailing a share repurchase program executed on February 19, 2008. The company, through its agent Davy, purchased 127,600 ordinary shares of EUR0.32 each. These repurchased shares are intended to be held as treasury shares, a move that can often signal management's confidence in the company's valuation or a strategy to return capital to shareholders. Following this transaction, CRH now holds 4,478,075 ordinary shares in treasury. The total number of ordinary shares outstanding, excluding these treasury shares, stands at 542,749,119. Investors should note the purchase price range of EUR25.75 to EUR26.28 per share, as this provides insight into the market valuation at the time of the repurchase.

Key Highlights

  • 1CRH executed a share repurchase on February 19, 2008, buying back 127,600 ordinary shares.
  • 2The shares were purchased by Davy on behalf of CRH plc.
  • 3The repurchased shares will be held as Treasury Shares.
  • 4Following the buyback, CRH holds 4,478,075 shares in treasury.
  • 5The total number of issued ordinary shares, excluding treasury shares, is 542,749,119.
  • 6The purchase price per share ranged between EUR25.75 and EUR26.28.

Frequently Asked Questions

Holding shares as treasury shares means the company has repurchased its own stock and holds it on its balance sheet. These shares are not considered outstanding and do not carry voting rights or receive dividends. Companies typically do this to potentially re-issue them for employee stock options, acquisitions, or as a way to return capital to shareholders and potentially boost earnings per share.

A share repurchase can be interpreted in several ways. It might suggest that management believes the company's stock is undervalued in the market, and they are using company funds to invest in their own shares. It can also be a signal of confidence in future earnings and a strategy to return excess cash to shareholders, thereby increasing their stake in the company.

CRH repurchased 127,600 ordinary shares. The average price would be between EUR25.75 and EUR26.28, though an exact average price is not provided in this report. Investors would need to see a more detailed breakdown or subsequent filings to calculate a precise average.