8-K

CRH PUBLIC LTD CO 8-K Report (Apr 10, 2008)

Filed April 10, 2008For Securities:CRH

Summary

CRH plc filed a Form 6-K on April 10, 2008, reporting on transactions involving its own shares that occurred on April 9, 2008. The company repurchased 247,000 ordinary shares at prices ranging from EUR24.19 to EUR24.45 per share, which will be held as treasury shares. Additionally, CRH transferred 38,054 ordinary shares to participants in its employee share schemes at prices between EUR13.26 and EUR18.28 per share.

Key Highlights

  • 1CRH plc executed a share repurchase program on April 9, 2008, acquiring 247,000 ordinary shares.
  • 2The repurchase price for these shares was between EUR24.19 and EUR24.45 per share.
  • 3Acquired shares will be held as treasury shares, potentially for future use.
  • 4CRH also transferred 38,054 ordinary shares to employees under its share schemes.
  • 5The share transfers to employees occurred at prices ranging from EUR13.26 to EUR18.28.
  • 6Following these transactions, CRH holds 9,208,389 ordinary shares in treasury.
  • 7The total number of outstanding ordinary shares, excluding treasury shares, is 538,018,805.

Frequently Asked Questions

This Form 6-K filing serves to report CRH plc's recent transactions involving its own shares, specifically a share repurchase program and transfers under employee share schemes, as required by SEC regulations for foreign issuers.

While the filing doesn't explicitly state the reason, share repurchases are often undertaken to return value to shareholders, reduce the number of outstanding shares (potentially increasing Earnings Per Share), or to hold shares for future corporate needs like employee stock options or acquisitions. These repurchased shares are designated as treasury shares.

Treasury shares are company-owned shares that were previously issued and then reacquired. They do not have voting rights and do not receive dividends. CRH holds these shares and can use them for various corporate purposes, such as fulfilling stock option grants, share-based compensation plans, or future acquisitions, without issuing new shares.

The repurchase price (EUR24.19-EUR24.45) reflects the market price at which CRH bought back its shares on the open market. The lower transfer prices (EUR13.26-EUR18.28) for employee schemes suggest these shares were provided to employees at a discounted rate or under specific terms of those schemes, which is a common practice for employee compensation and retention.