Summary
CRH Public Limited Company (CRH) filed an 8-K report on April 17, 2008, detailing share transactions conducted on April 16, 2008. The company repurchased 34,500 of its ordinary shares at prices ranging from EUR23.63 to EUR24.15 per share, which will be held as treasury shares. Additionally, CRH transferred 9,489 ordinary shares to participants in its employee share schemes at prices between EUR18.0084 and EUR20.91 per share. Following these transactions, CRH now holds 9,446,450 ordinary shares in treasury, with 537,780,744 ordinary shares outstanding. This filing provides transparency into CRH's capital management activities, including its share buyback program and its approach to employee share-based compensation.
Key Highlights
- 1CRH repurchased 34,500 ordinary shares on April 16, 2008, as part of its share repurchase program.
- 2The repurchase price per share ranged from EUR23.63 to EUR24.15.
- 3The repurchased shares will be held in treasury.
- 4CRH transferred 9,489 ordinary shares to participants in its employee share schemes.
- 5The transfer price for employee shares ranged from EUR18.0084 to EUR20.91.
- 6Following these transactions, CRH holds 9,446,450 ordinary shares in treasury.
- 7The total number of outstanding ordinary shares (excluding treasury shares) is 537,780,744.
Frequently Asked Questions
The share repurchase program allows CRH to buy back its own shares from the market. While not explicitly stated, companies typically undertake share repurchases to return value to shareholders, potentially boost earnings per share, and manage their capital structure.
Treasury shares are shares that a company has repurchased from the open market. CRH will hold these 34,500 shares in treasury. Companies hold treasury shares for various reasons, including to meet obligations under employee share schemes, for future acquisitions, or to reissue them later. They are not considered outstanding for voting or dividend purposes.
The transfer of shares to employee schemes indicates CRH's use of equity to compensate and incentivize its employees. The company is utilizing its own shares to fulfill its obligations under these plans, which is a common practice for many publicly traded companies.
The repurchase of 34,500 shares reduces the number of outstanding shares, while the transfer of 9,489 shares to employees also affects the outstanding count as these shares are no longer held by the company. The net effect, along with the existing treasury shares, results in a total of 537,780,744 ordinary shares remaining in issue (excluding the total treasury shares of 9,446,450).