8-K

CRH PUBLIC LTD CO 8-K Report (Mar 28, 2008)

Filed March 28, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed a Form 6-K on March 28, 2008, to report on a transaction involving its own shares. On March 27, 2008, the company, through UBS Limited, repurchased 209,693 ordinary shares at prices ranging from EUR23.68 to EUR24.23 per share. These repurchased shares will be held as treasury shares. This announcement is significant for investors as it indicates CRH's engagement in a share repurchase program. The company currently holds 8,629,470 ordinary shares in treasury, with the number of outstanding shares (excluding treasury shares) standing at 538,597,724. Share repurchases can signal management's confidence in the company's valuation and can potentially increase earnings per share by reducing the number of outstanding shares.

Key Highlights

  • 1CRH plc repurchased 209,693 ordinary shares on March 27, 2008.
  • 2The share repurchase was conducted by UBS Limited on behalf of CRH plc.
  • 3The purchase prices for the shares ranged from EUR23.68 to EUR24.23.
  • 4The repurchased shares will be held as treasury shares.
  • 5Following this transaction, CRH plc holds 8,629,470 ordinary shares in treasury.
  • 6The number of ordinary shares in issue, excluding treasury shares, is 538,597,724.

Frequently Asked Questions

The primary purpose of this 8-K filing (submitted as a Form 6-K for foreign issuers) was to report CRH plc's transaction in its own shares, specifically the repurchase of ordinary shares.

The filing does not explicitly state the reason for the repurchase, but companies typically engage in share repurchases when they believe their stock is undervalued, to return capital to shareholders, or to offset dilution from stock-based compensation. It can also be seen as a signal of management's confidence in the company's future prospects.

Treasury shares are shares that a company has repurchased from the open market. They are not considered outstanding shares for the purpose of calculating earnings per share (EPS) or voting rights. Holding treasury shares can increase EPS as the net income is divided by a smaller number of outstanding shares. They can also be reissued later for various corporate purposes.

After the transaction, CRH plc holds 8,629,470 ordinary shares in treasury. The total number of ordinary shares in issue, excluding treasury shares, is 538,597,724. The total number of shares authorized but not yet issued, or issued and not held in treasury, would depend on other factors not detailed in this specific filing.