8-K

CRH PUBLIC LTD CO 8-K Report (Sep 9, 2008)

Filed September 9, 2008For Securities:CRH

Summary

CRH plc has announced a transaction in its own shares, executed on September 8, 2008. The company, through UBS Limited, repurchased 229,711 ordinary shares at prices ranging from €18.80 to €18.90 per share. These repurchased shares will be held as treasury shares, a common practice for companies to manage their share capital. This action indicates a proactive approach by CRH to potentially enhance shareholder value or manage its equity structure. Following this repurchase, CRH plc's total holdings in treasury shares amount to 15,135,396. The number of outstanding shares, excluding those held in treasury, is now 532,985,040. Investors should note that share repurchases can signal management's confidence in the company's valuation and can lead to an increase in earnings per share by reducing the total number of outstanding shares.

Key Highlights

  • 1CRH plc repurchased 229,711 ordinary shares on September 8, 2008.
  • 2The share repurchase was executed by UBS Limited on behalf of CRH plc.
  • 3The purchase price per share ranged between €18.80 and €18.90.
  • 4The repurchased shares will be held as treasury shares.
  • 5CRH plc now holds a total of 15,135,396 ordinary shares in treasury.
  • 6The number of outstanding ordinary shares (excluding treasury shares) is 532,985,040.

Frequently Asked Questions

While the specific reasons are not detailed in this filing, companies typically repurchase shares to return capital to shareholders, potentially boost earnings per share (EPS) by reducing the number of outstanding shares, or as a signal of management's confidence in the company's valuation.

Treasury shares are shares that a company has repurchased from the open market but has not yet retired. These shares can be reissued later for various corporate purposes, such as employee stock options or acquisitions, and are not counted when calculating earnings per share.

The repurchase reduced the number of outstanding shares. The filing states that after the transaction, CRH plc holds 15,135,396 treasury shares, and the number of ordinary shares in issue (excluding treasury shares) is 532,985,040.

The price range indicates the average price at which the shares were bought during the specified trading day. It suggests that the company executed its buyback program within a narrow band of market prices, reflecting market conditions at the time of the transaction.