8-K

CRH PUBLIC LTD CO 8-K Report (Aug 14, 2008)

Filed August 14, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K on August 14, 2008, reporting on transactions involving its own shares. On August 13, 2008, the company repurchased 100,000 ordinary shares at prices ranging from €17.93 to €18.50, which will be held as treasury shares. This action indicates the company's ongoing share repurchase program, a strategy often employed to return value to shareholders or manage share count. Additionally, CRH transferred 4,122 ordinary shares to participants in its employee share schemes, reflecting its commitment to employee incentives. Following these transactions, CRH now holds 14,227,423 ordinary shares in treasury, with 533,893,013 ordinary shares remaining in issue (excluding treasury shares).

Key Highlights

  • 1CRH repurchased 100,000 ordinary shares on August 13, 2008.
  • 2The share repurchase occurred at prices between €17.93 and €18.50 per share.
  • 3Repurchased shares will be held as treasury shares.
  • 4CRH transferred 4,122 ordinary shares to participants in employee share schemes.
  • 5Following transactions, CRH holds 14,227,423 ordinary shares in treasury.
  • 6The number of outstanding ordinary shares (excluding treasury shares) is 533,893,013.

Frequently Asked Questions

Companies typically 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 be a way to return excess cash to shareholders when management believes the stock is undervalued.

Treasury shares are shares that a company has bought back from the open market but has not yet retired or reissued. They are recorded on the balance sheet as a contra-equity account and do not have voting rights or the right to receive dividends.

This action demonstrates CRH's commitment to its employees and its use of share-based compensation as an incentive. It aligns employee interests with those of shareholders by giving employees a stake in the company's performance.

The number of shares outstanding that are typically considered for metrics like EPS and market capitalization excludes treasury shares. CRH's outstanding shares are reported as 533,893,013, which is the total issued shares minus the 14,227,423 held in treasury.