Cairn Homes Announces Proposed Secondary Placing

Cairn Homes Plc has announced a proposed secondary placing of up to 8.0 million shares. This represents approximately 1.3% of the company's issued share capital. The placing is being managed via an accelerated bookbuild by Goodbody Stockbrokers UC.

Michael Stanley, CEO of Cairn Homes, currently holds about 3.5% of the company’s voting rights. Post-placing, assuming full allocation, his holding would reduce to around 2.3%. Stanley has agreed not to sell any remaining shares for six months, barring customary exceptions.

The placing process will be conducted immediately, with the final number and price of placing shares to be determined at the close of the bookbuild. Goodbody holds full discretion over the timing and allocation.