Summary
CRH Public Limited Company (CRH) filed a Form 6-K report on May 17, 2007, to disclose a transaction by its Employee Benefit Trust. On May 16, 2007, the Trustees of the CRH plc Employee Benefit Trust purchased 62,656 ordinary shares of CRH plc. The average purchase price was EUR34.62104 per share. This acquisition was made to fulfill obligations related to the company's Share Option Schemes, specifically to satisfy share requirements upon the exercise of options by employees.
Key Highlights
- 1CRH plc's Employee Benefit Trust purchased 62,656 ordinary shares.
- 2The purchase occurred on May 16, 2007.
- 3The average acquisition price per share was EUR34.62104.
- 4The purpose of the share purchase is to satisfy share requirements for employee option exercises.
- 5This action supports the company's Share Option Schemes.
Frequently Asked Questions
The primary purpose of the share purchase by the CRH plc Employee Benefit Trust was to acquire shares needed to fulfill obligations under the company's Share Option Schemes. This ensures that shares are available for employees when they exercise their options.
The purchase was made by the Trustees of the CRH plc Employee Benefit Trust.
This transaction indicates that CRH is actively managing its employee share-based compensation plans. The purchase by the trust suggests potential future dilution if new shares were issued, but in this case, it's a pre-emptive purchase of existing shares to cover existing obligations, which is a normal administrative function for companies with stock option plans.
The total cost can be estimated by multiplying the number of shares by the average price: 62,656 shares * EUR34.62104/share = approximately EUR2,169,244.66.