Summary
CRH plc has announced a share repurchase program update, detailing a transaction that occurred on June 24, 2008. On this date, the company, through its agent Davy, purchased 150,000 of its own ordinary shares at prices ranging from €17.47 to €18.29 per share. These repurchased shares are designated to be held as Treasury Shares. This transaction has resulted in CRH plc holding a total of 12,390,309 ordinary shares in Treasury. The total number of ordinary shares currently in issue, excluding these treasury shares, stands at 535,730,127. This activity indicates CRH's ongoing strategy to manage its share capital, which could be interpreted as a signal of confidence in the company's valuation or an effort to return capital to shareholders.
Key Highlights
- 1CRH plc repurchased 150,000 ordinary shares on June 24, 2008.
- 2The share purchases were executed by Davy on behalf of CRH plc.
- 3The acquisition price per share ranged between €17.47 and €18.29.
- 4The repurchased shares will be held as Treasury Shares.
- 5Following the transaction, CRH plc holds 12,390,309 ordinary shares in Treasury.
- 6The total number of ordinary shares in issue, excluding treasury shares, is 535,730,127.
Frequently Asked Questions
Treasury Shares are essentially the company's own shares that it has repurchased. Companies typically hold treasury shares for various strategic reasons, such as reissuing them to employees under stock option plans, using them for future acquisitions, or to offset dilution from new share issuances. Holding them can also be a way to manage the company's capital structure or return value to shareholders by reducing the number of shares outstanding.
Share repurchases can be viewed positively by investors. They can signal management's belief that the company's stock is undervalued. Additionally, by reducing the number of outstanding shares, repurchases can increase earnings per share (EPS) and potentially boost the stock price. It also represents a method of returning capital to shareholders, similar to dividends.
Yes, it does. While the total number of shares issued by the company remains the same, the number of shares 'in issue' for calculation purposes (like EPS) is reduced because the repurchased shares are held as Treasury Shares and excluded from the 'in issue' count. The filing indicates that after the repurchase, the number of ordinary shares in issue (excluding treasury shares) is 535,730,127.