LONDON (Alliance News) - Cairn Homes PLC on Tuesday said it has been advised by a number of shareholders and directors that they intend to sell an aggregate of 17.0 million shares, representing 2.2% of the company's capital.
Cairn said that Chief Executive Officer Michael Stanley, Emerald Everleigh Ltd Partnership, which is owned by a trust of which Cairn Founder & Non-Executive Director Alan McIntosh and his wife are beneficiaries, and Kevin Stanley will sell the shares via an accelerated bookbuild.
Michael Stanley and Emerald currently hold 3.3% and 6.3% of the company's shares. Following the placing they will hold approximately 2.7% and 5.0%.
Goodbody Stockbrokers UC and Numis Securities Ltd have been appointed as joint bookrunners in respect of the placing.
Cairn Homes shares closed down 1.0% at EUR1.41 each.
Cairn Homes (CRN)