8-K

CRH PUBLIC LTD CO 8-K Report (Jun 26, 2008)

Filed June 26, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K report on June 26, 2008, to disclose transactions involving its own shares. The primary focus of this filing is the company's share repurchase program. On June 25, 2008, CRH purchased 50,000 ordinary shares in the open market through its agent, Davy, at prices ranging from €18.27 to €18.99 per share. These repurchased shares will be held as treasury shares, which can be used for various corporate purposes such as employee share schemes or future acquisitions without immediately impacting the number of shares outstanding. Additionally, the company transferred 2,598 ordinary shares to participants in its employee share schemes at prices between €13.15 and €14.5652. These transactions result in CRH holding 12,437,711 shares in treasury, with 535,682,725 ordinary shares remaining in issue.

Key Highlights

  • 1CRH plc repurchased 50,000 ordinary shares on June 25, 2008.
  • 2The share repurchases were conducted through Davy at prices between €18.27 and €18.99.
  • 3The repurchased shares will be held as treasury shares.
  • 4CRH transferred 2,598 ordinary shares to participants in its employee share schemes.
  • 5The transfer to employees occurred at prices ranging from €13.15 to €14.5652 per share.
  • 6Following these transactions, CRH holds 12,437,711 shares in treasury.
  • 7The total number of ordinary shares in issue, excluding treasury shares, is 535,682,725.

Frequently Asked Questions

This 8-K filing serves to update the Securities and Exchange Commission on CRH plc's transactions involving its own shares, specifically detailing a share repurchase program and the transfer of shares to employee schemes.

While the filing doesn't explicitly state the strategic reason for the buyback, companies typically repurchase shares to return value to shareholders, reduce the number of outstanding shares (potentially increasing earnings per share), or to have shares available for employee compensation or future corporate actions.

Treasury shares are shares that a company has repurchased from the open market. CRH holds these shares internally and they are not considered part of the outstanding shares available for public trading. They can be reissued later for employee stock option plans, acquisitions, or other corporate purposes.

The repurchase of 50,000 shares will reduce the total number of shares outstanding once they are officially retired or used. However, the filing indicates they are held as treasury shares, meaning they do not immediately reduce the 'shares in issue' count, which excludes treasury shares. The total number of shares in issue (excluding treasury shares) is 535,682,725.