8-K

CRH PUBLIC LTD CO 8-K Report (May 29, 2008)

Filed May 29, 2008For Securities:CRH

Summary

This Form 6-K filing from CRH Public Limited Company (CRH) on May 29, 2008, details significant transactions involving the company's own shares. The report highlights CRH's ongoing share repurchase program, through which UBS Limited purchased 55,000 ordinary shares on behalf of the company at prices ranging from €23.74 to €24.20. These repurchased shares are being held as treasury shares. Furthermore, the filing discloses the transfer of 14,213 ordinary shares to participants in CRH's employee share schemes. These shares were transferred at varying prices, indicating potential employee stock option exercises or awards. Following these transactions, CRH now holds 11,323,463 ordinary shares in treasury, with the total number of outstanding shares (excluding treasury shares) standing at 536,796,973.

Key Highlights

  • 1CRH repurchased 55,000 ordinary shares on May 29, 2008, through UBS Limited.
  • 2The repurchase price for these shares ranged between €23.74 and €24.20 per share.
  • 3The repurchased shares will be held by CRH as treasury shares.
  • 4CRH transferred 14,213 ordinary shares to participants in its employee share schemes.
  • 5Transferred shares were priced between €13.15 and €20.79, and also at £14.
  • 6Following these transactions, CRH holds 11,323,463 ordinary shares in treasury.
  • 7The total number of outstanding ordinary shares, excluding treasury shares, is 536,796,973.

Frequently Asked Questions

Companies typically repurchase shares to reduce the number of outstanding shares, which can potentially increase earnings per share (EPS) and signal management's confidence in the company's valuation. It can also be part of a strategy to return capital to shareholders.

Treasury shares are shares that a company has repurchased from the open market. CRH holds these shares internally rather than canceling them. They can be used for future stock-based compensation plans, employee stock options, or potential acquisitions, without immediately diluting existing shareholders.

This indicates that CRH is fulfilling obligations related to its employee incentive programs. It suggests that employees have exercised stock options, received grants, or are otherwise acquiring company stock as part of their compensation, reflecting employee participation and potential alignment of interests with shareholders.

The repurchase of shares reduces the number of outstanding shares, while the transfer to employees typically does not change the total number of outstanding shares (unless these shares were previously held in treasury and are now being reissued). The net effect on the number of shares available for trading is a reduction due to the buyback.