Summary
CRH plc filed a Form 6-K to report on a recent transaction in its own shares. On June 10, 2008, the company, through its agent Davy, repurchased 339,427 ordinary shares. These shares were acquired at prices ranging from €21.05 to €21.43 per share and will be held in treasury. This repurchase activity signals a proactive approach by CRH to manage its capital structure and potentially return value to shareholders.
Key Highlights
- 1CRH plc conducted a share repurchase program on June 10, 2008.
- 2339,427 ordinary shares were purchased.
- 3The purchase price per share ranged between €21.05 and €21.43.
- 4The acquired shares will be held as Treasury Shares.
- 5Following the repurchase, CRH holds 11,760,362 ordinary shares in treasury.
- 6The total number of ordinary shares in issue, excluding treasury shares, is 536,360,074.
Frequently Asked Questions
This filing is a Form 6-K, a report of foreign issuers, specifically to announce a transaction involving the repurchase of CRH plc's own shares. It provides details on the number of shares bought and the price range.
Companies typically repurchase shares to reduce the number of outstanding shares, which can increase earnings per share (EPS) and potentially boost the stock price. It can also be a way to return excess cash to shareholders when management believes the stock is undervalued or as an alternative to dividends.
Treasury shares are shares that a company has repurchased from the open market but has not retired. They are no longer considered outstanding shares for purposes of voting or dividends and can be reissued later, for example, to satisfy stock options or for acquisitions.
The repurchase reduces the number of shares outstanding. After this transaction, CRH has 536,360,074 ordinary shares in issue, excluding the 11,760,362 shares held in treasury.