8-K

CRH PUBLIC LTD CO 8-K Report (Jun 22, 2006)

Filed June 22, 2006For Securities:CRH

Summary

CRH Public Limited Company (CRH) filed a Form 6-K on June 21, 2006, reporting on the CRH Performance Share Plan. The most significant event disclosed is the purchase of 627,750 Ordinary Shares by the Trustees of the CRH plc Employee Benefit Trust at a price of €24.82 per share. This trust was established to implement the CRH 2006 Performance Share Plan, which was previously approved by shareholders at the Annual General Meeting on May 3, 2006. This transaction indicates the active implementation of the company's long-term incentive program. Investors should note that the Employee Benefit Trust's share purchases are a mechanism to fulfill obligations under the performance share plan. The price paid reflects a market valuation at the time of the transaction and provides insight into how the company is managing its equity-based compensation.

Key Highlights

  • 1CRH plc Employee Benefit Trust purchased 627,750 Ordinary Shares.
  • 2The share purchase price was €24.82 per Ordinary Share.
  • 3The shares were purchased by the Trustees of the CRH plc Employee Benefit Trust.
  • 4The trust was established to implement the CRH 2006 Performance Share Plan.
  • 5The CRH 2006 Performance Share Plan was approved by shareholders on May 3, 2006.
  • 6The filing is made under Form 6-K, indicating it's a report from a foreign issuer.
  • 7M. Lee, Finance Director, signed the report on behalf of CRH.

Frequently Asked Questions

The main purpose of this 8-K filing (specifically, a Form 6-K for foreign issuers) was to report on the activities related to the CRH Performance Share Plan, particularly the purchase of shares by the CRH plc Employee Benefit Trust.

The Trustees of the CRH plc Employee Benefit Trust purchased 627,750 Ordinary Shares. This purchase was made to fulfill the terms of the CRH 2006 Performance Share Plan, a long-term incentive program approved by shareholders.

This transaction signifies the active implementation of CRH's performance share plan, which is a common method for employee compensation and retention. The purchase price of €24.82 per share can be seen as a market-based valuation at that time for equity granted under the plan. It demonstrates the company is taking steps to acquire shares needed for its incentive programs.

No, this filing reports on the purchase of existing ordinary shares by a trust established by CRH. It is not a new issuance of shares by the company directly to the public or new shareholders, but rather the acquisition of shares by a trust to facilitate its employee benefit plan.