8-K

CRH PUBLIC LTD CO 8-K Report (Jun 24, 2008)

Filed June 24, 2008For Securities:CRH

Summary

CRH plc filed a Form 6-K on June 24, 2008, reporting a transaction in its own shares. On June 23, 2008, the company, through its agent Davy, repurchased 123,190 ordinary shares at prices ranging from €18.16 to €18.79 per share. These shares will be held as treasury shares. This repurchase activity indicates CRH's ongoing commitment to its share repurchase program. Following these transactions, the company now holds 12,240,309 ordinary shares in treasury, with the number of outstanding shares (excluding treasury shares) standing at 535,880,127. Investors should note this action as a signal of management's confidence in the company's valuation and as a mechanism to potentially enhance shareholder value.

Key Highlights

  • 1CRH plc repurchased 123,190 ordinary shares on June 23, 2008.
  • 2The average purchase price per share was between €18.16 and €18.79.
  • 3The repurchased shares will be classified as treasury shares.
  • 4Following the repurchase, CRH holds a total of 12,240,309 ordinary shares in treasury.
  • 5The number of outstanding shares, excluding treasury shares, is now 535,880,127.

Frequently Asked Questions

Treasury shares are shares that a company has repurchased from the open market. They can be used for various purposes, such as employee stock option plans, future acquisitions, or to return capital to shareholders. Holding treasury shares generally reduces the number of outstanding shares available for trading, which can potentially boost earnings per share (EPS) and signal management's confidence in the company's stock value.

Typically, share repurchases are viewed as a positive signal from management. It suggests that the company believes its shares are undervalued and that reinvesting in its own stock is a prudent use of capital. This action can enhance shareholder value by increasing EPS and demonstrating financial strength.

A Form 6-K is a report of foreign private issuers that are either required to be filed or are voluntarily filed with the SEC. It is used to furnish reports and other information that the issuer has made or is required to make public pursuant to the laws of the issuer's home country or that it has filed or will file with any stock exchange on which its securities are traded.