8-K

CRH PUBLIC LTD CO 8-K Report (Jul 31, 2008)

Filed July 31, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) has filed a Form 6-K with the SEC, detailing transactions in its own shares as of July 30, 2008. The company repurchased 100,000 ordinary shares at prices ranging from €16.57 to €17.19 per share, which will be held as treasury shares. Additionally, CRH transferred 8,280 ordinary shares to participants in its employee share schemes at varying prices. These transactions impact CRH's share structure. Following the repurchases and transfers, the company now holds 13,768,520 ordinary shares in treasury, with 534,351,916 ordinary shares remaining in issue. Investors should note these treasury share activities as they affect the total number of shares outstanding and can be a signal of management's view on the company's valuation.

Key Highlights

  • 1CRH repurchased 100,000 ordinary shares on July 30, 2008, for treasury.
  • 2The repurchase prices for treasury shares ranged between €16.57 and €17.19 per share.
  • 38,280 ordinary shares were transferred to employee share schemes on the same date.
  • 4CRH now holds 13,768,520 ordinary shares in treasury.
  • 5The number of ordinary shares outstanding, excluding treasury shares, is 534,351,916.
  • 6The filing is made pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934.
  • 7The company is a foreign issuer and files annual reports under Form 20-F.

Frequently Asked Questions

While the filing doesn't explicitly state the purpose, companies often repurchase shares to reduce the number of outstanding shares, which can increase earnings per share (EPS) and potentially boost the stock price. It can also signal management's belief that the company's stock is undervalued.

Treasury shares are company stock that has been repurchased by the issuing company. These shares are no longer outstanding and do not have voting rights or pay dividends. They reduce the total number of shares in issue, which can impact metrics like EPS.

The repurchase of 100,000 shares, combined with previous treasury holdings, has reduced the total number of ordinary shares in issue to 534,351,916 (excluding the 13,768,520 treasury shares).

Form 6-K is a report of foreign private issuers that must be filed with the SEC regarding material information that is made public, filed, or is required to be filed with any foreign securities exchange or stock market, or given to its security holders. CRH, being an Irish company, uses this form to report significant events like share transactions.