Summary
CRH Public Limited Company (CRH) has filed a Form 6-K to report a transaction by its Employee Benefit Trust. On May 9, 2007, the Trustees of the CRH plc Employee Benefit Trust purchased 155,125 ordinary shares of CRH plc. These shares were acquired at an average price of EUR 34.2633 per share. The primary purpose of this share purchase by the Trust is to fulfill the company's obligations under its Share Option Schemes, specifically to provide shares for employees upon the exercise of their stock options. This transaction indicates ongoing efforts by CRH to manage its equity-based compensation plans and provide the necessary shares for employee participation.
Key Highlights
- 1CRH's Employee Benefit Trust purchased 155,125 ordinary shares on May 9, 2007.
- 2The average purchase price for these shares was EUR 34.2633 per share.
- 3The shares were bought to satisfy requirements for the company's Share Option Schemes.
- 4This action is intended to cover shares needed when employees exercise their stock options.
- 5The filing is a Form 6-K, indicating it's a report from a foreign private issuer.
- 6Angela Malone, Company Secretary, and M. Lee, Finance Director, are listed as contacts/signatories.
Frequently Asked Questions
The CRH plc Employee Benefit Trust is established to hold and manage shares for the benefit of employees, primarily to satisfy obligations related to the company's share-based compensation plans, such as share option schemes.
The Trust purchased CRH shares to ensure there are sufficient shares available to meet the company's commitments under its Share Option Schemes. This means the Trust will be able to provide shares to employees when they exercise their granted options.
This specific filing reports on the mechanics of managing employee share options rather than directly reflecting CRH's financial performance or future outlook. The purchase is an operational step to support existing compensation programs, not a strategic investment decision for the company itself.
The average price of EUR 34.2633 represents the cost at which the Employee Benefit Trust acquired the ordinary shares. This price is likely influenced by the market trading price of CRH shares around May 9, 2007, and serves as the basis for the Trust's inventory of shares for option fulfillment.