8-K

CRH PUBLIC LTD CO 8-K Report (Jul 11, 2008)

Filed July 11, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K report on July 11, 2008, to disclose a transaction in its own shares. On July 10, 2008, the company, through UBS Limited, repurchased 90,839 ordinary shares at prices ranging from €15.30 to €15.60 per share. These repurchased shares will be held as treasury shares. This transaction signifies CRH's ongoing share repurchase program. Following this buyback, CRH now holds 12,899,205 ordinary shares in treasury, with the total number of outstanding shares (excluding treasury shares) standing at 535,221,231. Investors should note this activity as it can impact share count and potentially signal management's view on the company's valuation.

Key Highlights

  • 1CRH plc repurchased 90,839 ordinary shares on July 10, 2008.
  • 2The share repurchases were executed by UBS Limited on behalf of the company.
  • 3The purchase price per share ranged between €15.30 and €15.60.
  • 4The acquired shares will be held as treasury shares.
  • 5Following this transaction, CRH holds a total of 12,899,205 ordinary shares in treasury.
  • 6The number of outstanding ordinary shares, excluding treasury shares, is 535,221,231.

Frequently Asked Questions

While the filing doesn't explicitly state the purpose, share repurchases are typically undertaken to return value to shareholders, reduce the number of outstanding shares (potentially increasing Earnings Per Share), or signal that management believes the company's stock is undervalued.

Treasury shares are shares that a company has repurchased from the open market but are not canceled. They can be used for various corporate purposes, such as employee stock options, mergers and acquisitions, or future share buyback programs, without affecting the number of shares authorized for issuance.

This specific buyback reduced the number of outstanding shares by 90,839. However, the total number of shares in issue (excluding treasury shares) remains 535,221,231, as the repurchased shares are being held in treasury rather than being canceled.

This filing reports a specific transaction on July 10, 2008, as part of an ongoing share repurchase program. The report indicates that CRH holds a significant number of shares (12,899,205) in treasury, suggesting that this is not the first repurchase activity.