CRH finance director Mr Harry Sheridan has made a cash profit of almost £1 million (€1.27 million) after buying CRH shares at option prices and then selling most into the market. CRH has informed the stock exchange that on April 6th Mr Sheridan bought 40,000 shares at an option price of €2.93 each, 75,000 at €7.17 each and another 20,000 at €7.78 each.
These purchases cost Mr Sheridan €810,550 (£638,360). The next day, he sold 100,000 shares into the market at €20.30 each, to realise a total of €2.03 million (£1.6 million), leaving him with a cash profit of £960,000 on the various transactions.
In addition, he has made a paper profit of €486,500 (£383,000) on the 35,000 shares he has retained - between the average option price of €6.00 and CRH's closing price last night of €19.91. Mr Sheridan holds more than 666,000 CRH shares, worth €13.3 million.
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