Summary
CRH Public Limited Company (CRH) has filed a Form 6-K to report a transaction involving the repurchase of its own shares. On May 19, 2008, the company, through UBS Limited, purchased 71,522 ordinary shares at prices ranging from €24.317 to €24.60 per share. These repurchased shares will be held as treasury shares. This share repurchase activity indicates CRH's strategy to manage its capital structure and potentially enhance shareholder value. Following this transaction, CRH now holds 10,824,365 ordinary shares in treasury, with the total number of outstanding shares (excluding treasury shares) standing at 537,296,071. Investors should note this ongoing share buyback program as it can impact earnings per share and the overall share count.
Key Highlights
- 1CRH plc repurchased 71,522 ordinary shares on May 19, 2008.
- 2The share repurchase was executed by UBS Limited on behalf of CRH.
- 3The average purchase price per share was between €24.317 and €24.60.
- 4The acquired shares will be held as treasury shares.
- 5CRH now holds a total of 10,824,365 ordinary shares in treasury.
- 6The number of outstanding ordinary shares, excluding treasury shares, is 537,296,071.
Frequently Asked Questions
Share repurchases, also known as buybacks, can signal management's confidence in the company's value and future prospects. They can also increase earnings per share (EPS) by reducing the number of outstanding shares, potentially making the stock more attractive to investors. Additionally, it can be a way for the company to return capital to shareholders.
Treasury shares are shares that a company has repurchased from the open market but has not yet retired or cancelled. These shares are no longer outstanding and do not carry voting rights or the right to receive dividends. Companies hold treasury shares for various purposes, such as satisfying employee stock options or for future acquisitions.
This specific transaction reduced the number of shares in public circulation by 71,522. However, the total number of shares in issue on a fully diluted basis would remain higher if the treasury shares are considered. The filing specifies that the number of outstanding shares, excluding treasury shares, is 537,296,071 after the repurchase. The total shares held in treasury increased to 10,824,365.