Summary
CRH Public Limited Company (CRH) filed a Form 6-K on June 20, 2008, reporting a transaction in its own shares. On June 19, 2008, the company repurchased 77,000 ordinary shares at prices ranging from €18.70 to €19.05 per share. These shares will be held as treasury shares. This repurchase activity indicates CRH's continued strategy of managing its share capital. Following this transaction, CRH now holds 12,006,119 ordinary shares in treasury. The total number of ordinary shares outstanding, excluding these treasury shares, stands at 536,114,317. Investors should note this activity as a signal of management's assessment of the company's valuation and its commitment to returning value to shareholders.
Key Highlights
- 1CRH plc repurchased 77,000 ordinary shares on June 19, 2008.
- 2The share repurchase occurred at prices between €18.70 and €19.05 per share.
- 3The repurchased shares will be held as treasury shares.
- 4Following the buyback, CRH plc holds 12,006,119 ordinary shares in treasury.
- 5The total number of ordinary shares in issue, excluding treasury shares, is 536,114,317.
Frequently Asked Questions
Holding shares as treasury shares means CRH has repurchased them and can hold them on its balance sheet without canceling them. These shares can be reissued later, used for employee stock options, or be part of future share buyback programs. It's a way to manage share capital and potentially return value to shareholders.
Companies typically repurchase their own shares when they believe the shares are undervalued by the market. It can also be a way to increase earnings per share (EPS) by reducing the number of outstanding shares, or to return excess cash to shareholders.
Yes, the number of shares in issue (excluding treasury shares) is the figure relevant for calculating metrics like EPS and voting rights. The 536,114,317 figure represents the shares that are actively held by the public and have voting rights.