Summary
CRH plc, a global diversified building materials group, announced a transaction on February 26, 2008, where its representative, Davy, purchased 155,000 ordinary shares on behalf of the company. These shares were acquired at prices ranging from EUR26.36 to EUR26.44 per share and will be held as treasury shares. This repurchase program indicates CRH's intention to manage its share capital and potentially return value to shareholders by reducing the number of shares outstanding, thereby increasing earnings per share. The total number of ordinary shares held in treasury now stands at 5,466,999, with 541,760,195 shares in issue excluding treasury shares.
Key Highlights
- 1CRH plc conducted a share repurchase on February 26, 2008.
- 2155,000 ordinary shares were purchased by Davy on behalf of CRH.
- 3The purchase price per share ranged between EUR26.36 and EUR26.44.
- 4The repurchased shares will be held as treasury shares.
- 5Following the transaction, CRH holds 5,466,999 ordinary shares in treasury.
- 6The number of ordinary shares currently in issue (excluding treasury shares) is 541,760,195.
Frequently Asked Questions
Share repurchases, also known as a share buyback, can signal management's confidence in the company's future prospects and its belief that the stock is undervalued. It can also increase shareholder value by reducing the number of outstanding shares, which may lead to higher earnings per share (EPS) and potentially a higher stock price. The shares are being held as treasury shares, which can be used for future employee stock options or other corporate purposes.
CRH repurchased 155,000 ordinary shares on February 26, 2008. The prices paid for these shares were between EUR26.36 and EUR26.44 per share.
After this repurchase, CRH plc holds a total of 5,466,999 ordinary shares in treasury. The number of ordinary shares in issue, excluding these treasury shares, is 541,760,195.