8-K

CRH PUBLIC LTD CO 8-K Report (Mar 11, 2008)

Filed March 11, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed an 8-K report detailing a share repurchase program executed on March 10, 2008. On this date, UBS Limited, acting on behalf of CRH, purchased 259,075 ordinary shares at prices ranging from EUR23.78 to EUR24.39 per share. These repurchased shares will be held as treasury shares by the company. This transaction signifies CRH's ongoing commitment to returning value to shareholders through share buybacks. Following this purchase, CRH now holds a total of 6,794,834 ordinary shares in treasury. The number of shares outstanding, excluding these treasury shares, stands at 540,432,360. Investors should note that such repurchases can impact earnings per share and indicate management's belief that the company's stock is undervalued.

Key Highlights

  • 1CRH repurchased 259,075 ordinary shares on March 10, 2008.
  • 2The average purchase price for these shares was between EUR23.78 and EUR24.39.
  • 3The repurchased shares will be held as treasury shares.
  • 4Following this transaction, CRH now holds 6,794,834 ordinary shares in treasury.
  • 5The total number of outstanding shares, excluding treasury shares, is 540,432,360.
  • 6The filing was made on March 11, 2008, under the 6-K form.
  • 7UBS Limited executed the share purchases on behalf of CRH.

Frequently Asked Questions

Companies typically repurchase shares to reduce the number of outstanding shares, which can increase earnings per share (EPS) and signal to the market that management believes the company's stock is undervalued. It can also be a way to return capital to shareholders.

Treasury shares are shares that a company has repurchased from the open market but has not yet retired. They are held on the company's balance sheet and are not considered outstanding for voting or dividend purposes. Holding shares in treasury allows the company flexibility for future corporate actions such as employee stock options, acquisitions, or further buybacks.

The repurchase reduces the number of shares held by the public. While 259,075 shares were bought back, they are now held as treasury shares. The report states that after this transaction, CRH has 540,432,360 ordinary shares in issue, excluding the treasury shares.

Based on the number of shares (259,075) and the price range (EUR23.78 to EUR24.39), the total value of the repurchased shares is approximately between EUR6,158,923.50 and EUR6,303,489.25.