8-K

CRH PUBLIC LTD CO 8-K Report (Aug 22, 2008)

Filed August 22, 2008For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed an 8-K on August 22, 2008, reporting on a recent share repurchase transaction. On August 21, 2008, the company, through its agent Davy, purchased 100,000 of its own ordinary shares. These shares were acquired at prices ranging from €16.00 to €16.325 per share and will be held as treasury shares. This repurchase activity is noteworthy for investors as it indicates management's action to reduce the number of outstanding shares. Following this transaction, CRH now holds 14,795,295 ordinary shares in treasury, with the total number of shares in issue (excluding treasury shares) standing at 533,325,141. This move could signal management's confidence in the company's valuation or a strategy to enhance shareholder value through a reduced share count.

Key Highlights

  • 1CRH plc repurchased 100,000 ordinary shares on August 21, 2008.
  • 2The shares were purchased by Davy on behalf of CRH plc.
  • 3The repurchase price per share ranged between €16.00 and €16.325.
  • 4The acquired shares will be held as treasury shares.
  • 5CRH plc now holds a total of 14,795,295 ordinary shares in treasury.
  • 6The number of ordinary shares outstanding (excluding treasury shares) is 533,325,141.
  • 7The filing is made under Form 6-K, indicating it's a report of a foreign issuer.

Frequently Asked Questions

The filing doesn't explicitly state the reason, but share repurchases can be a signal of management's belief that the company's stock is undervalued, or it can be a strategy to return capital to shareholders and potentially increase earnings per share by reducing the number of outstanding shares.

Treasury shares are shares that a company has bought back from the open market. They are not considered outstanding shares and do not carry voting rights or receive dividends. Companies hold them for various reasons, such as to reissue them for employee stock options, acquisitions, or to reduce the total number of shares outstanding.

This specific transaction reduced the number of outstanding shares by 100,000. After the repurchase, CRH plc has 533,325,141 ordinary shares in issue, excluding the 14,795,295 shares held in treasury.

While 100,000 shares were repurchased, the filing doesn't indicate the scale of an ongoing program. Investors would need to look at historical filings or future announcements to determine the overall size and strategy behind CRH's share repurchase activities.