8-K

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

Filed August 8, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K report on August 8, 2008, detailing a transaction involving the repurchase of its own ordinary shares. On August 7, 2008, the company, through its agent Davy, purchased 114,349 ordinary shares at prices ranging from €16.85 to €17.27 per share. These repurchased shares will be held as treasury shares. This transaction is significant as it reflects CRH's active management of its capital structure and shareholder returns. Following this repurchase, CRH now holds a total of 14,104,245 ordinary shares in treasury. The reported number of outstanding shares, excluding treasury shares, stands at 534,016,191. Investors should note this activity as it can impact earnings per share and potentially signal management's confidence in the company's valuation.

Key Highlights

  • 1CRH plc repurchased 114,349 ordinary shares on August 7, 2008.
  • 2The share repurchases were executed by Davy on behalf of the company.
  • 3The purchase prices ranged between €16.85 and €17.27 per ordinary share.
  • 4The repurchased shares will be held as treasury shares.
  • 5Following the transaction, CRH holds 14,104,245 ordinary shares in treasury.
  • 6The number of outstanding ordinary shares, excluding treasury shares, is 534,016,191.

Frequently Asked Questions

This 8-K filing serves to report a significant transaction: CRH plc's repurchase of its own ordinary shares on August 7, 2008. It details the number of shares bought, the price range, and the classification of these shares as treasury stock.

Companies typically repurchase shares for several reasons, including returning capital to shareholders, increasing earnings per share (EPS) by reducing the number of outstanding shares, signaling confidence in the company's valuation, or having shares available for employee stock option plans or acquisitions.

Treasury shares are shares that a company has repurchased and holds. They are not included in the calculation of outstanding shares for voting or dividend purposes, and they do not earn dividends. Holding shares as treasury stock allows the company flexibility to reissue them later without issuing new shares.

The repurchase reduces the total number of ordinary shares in issue that are available to the public. While CRH now holds 14,104,245 shares in treasury, the number of shares 'in issue (excluding Treasury Shares)' has decreased to 534,016,191, which is the figure relevant for calculating metrics like EPS.