8-K

CRH PUBLIC LTD CO 8-K Report (Oct 1, 2008)

Filed October 1, 2008For Securities:CRH

Summary

This 8-K filing from CRH Public Limited Company (CRH) reports on a share repurchase transaction executed on September 30, 2008. The company, through UBS Limited, purchased 40,000 of its own ordinary shares at an average price ranging between €14.904 and €15.40 per share. These repurchased shares are designated to be held as treasury shares, which means they are still considered issued but are not outstanding for voting or dividend purposes. This action indicates the company's utilization of its capital to buy back its stock, a common strategy for shareholder value enhancement or to offset dilution from stock-based compensation. Investors should note the specific number of shares repurchased and the total treasury share balance as it impacts the outstanding share count. Following this transaction, CRH now holds a total of 16,545,635 ordinary shares in treasury. The number of ordinary shares currently in issue, excluding these treasury shares, stands at 531,574,801. This information is crucial for investors as it directly affects earnings per share calculations and overall ownership percentages. The filing also confirms CRH's status as a foreign issuer filing under Form 20-F.

Key Highlights

  • 1CRH plc repurchased 40,000 of its ordinary shares on September 30, 2008.
  • 2The share repurchases were executed by UBS Limited on behalf of CRH.
  • 3The purchase prices for the shares ranged from €14.904 to €15.40 per share.
  • 4The repurchased shares will be held as Treasury Shares.
  • 5CRH now holds a total of 16,545,635 Ordinary Shares in Treasury.
  • 6The number of outstanding Ordinary Shares (excluding Treasury Shares) is 531,574,801.

Frequently Asked Questions

While the filing doesn't explicitly state the reason, companies typically repurchase shares to return value to shareholders, boost earnings per share (EPS) by reducing the number of outstanding shares, or to offset potential dilution from employee stock options.

Treasury Shares are shares that a company has repurchased from the open market. They are no longer considered outstanding for voting or dividend distribution. This reduces the total number of shares outstanding, which can increase EPS and potentially the stock price. CRH's treasury share balance will impact these metrics.

After the repurchase of 40,000 shares and accounting for the existing treasury shares, CRH has 531,574,801 Ordinary Shares in issue, excluding the 16,545,635 shares held in treasury.