8-K

CRH PUBLIC LTD CO 8-K Report (May 14, 2008)

Filed May 14, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K report on May 14, 2008, detailing a transaction in its own shares. On May 13, 2008, the company, through UBS Limited, repurchased 76,886 ordinary shares at prices ranging from €23.907 to €24.50 per share. These shares were acquired for the purpose of being held as treasury shares. This repurchase activity is significant as it impacts the company's outstanding share count and can be viewed as a signal of management's confidence in the company's valuation or an effort to enhance shareholder value. Following this transaction, CRH holds 10,402,732 ordinary shares in treasury, with the number of outstanding shares (excluding treasury shares) standing at 537,717,704.

Key Highlights

  • 1CRH plc repurchased 76,886 ordinary shares on May 13, 2008.
  • 2The share repurchases were executed by UBS Limited on behalf of CRH plc.
  • 3The purchase price per share ranged between €23.907 and €24.50.
  • 4The acquired shares will be held as treasury shares.
  • 5Following the transaction, CRH holds 10,402,732 ordinary shares in treasury.
  • 6The number of ordinary shares in issue, excluding treasury shares, is 537,717,704.

Frequently Asked Questions

The filing does not explicitly state the reason for the repurchase, but companies typically repurchase shares to return capital to shareholders, signal confidence in the company's valuation, offset dilution from stock options, or enhance earnings per share.

Treasury shares are shares that a company has repurchased from the open market but has not yet retired. These shares are no longer outstanding, meaning they don't have voting rights or receive dividends, and they are not included in per-share calculations like earnings per share.

The repurchase reduces the total number of shares outstanding. In this case, 76,886 shares were removed from circulation, and the total number of shares held in treasury increased. The filing specifies the new number of shares in issue excluding treasury shares.

Based on the number of shares (76,886) and the price range (€23.907 to €24.50), the total value of the repurchased shares is approximately between €1.84 million and €1.88 million.