Cairn Homes Regulatory News (CRN)

Cairn Homes plc

Commencement of €35m Extended Share Buyback Programme

Dublin / London, 6 December 2023: Further to its Interim Results announcement on 7 September 2023, Cairn Homes plc (“Cairn”, “the Company” or “the Group”) (Euronext Dublin: C5H / LSE: CRN) today announces the commencement of the €35 million extension to its ongoing share buyback programme increasing the total size of its share buyback programme to €75 million.

Between 3 March 2023 and 5 December 2023, 36,693,316 ordinary shares were purchased at an average price of €1.09, returning c.€40 million to shareholders.

The Company has extended its irrevocable, non-discretionary arrangements with Goodbody Stockbrokers UC (“Goodbody”) and Numis Securities Limited (“Numis”) to repurchase ordinary shares on the Company’s behalf up to a maximum consideration of €35 million (the “Share Buyback Programme”). Goodbody and Numis will make their trading decisions in relation to the Company’s shares independently of, and uninfluenced by, the Company and in accordance with certain pre-set parameters. The Share Buyback Programme may continue until 30 June 2024 subject to market conditions, the ongoing capital requirements of the business and termination provisions customary for arrangements of this nature. The purpose of the Share Buyback Programme is to reduce the Company's share capital and it is intended that shares repurchased will be cancelled.

The maximum number of ordinary shares to be repurchased under the Share Buyback Programme is (i) 76,685,505 pursuant to the Company's general authority to repurchase ordinary shares approved by shareholders at the Company's AGM on 11 May 2023 and (ii) subject to shareholder approval, thereafter shall be determined by reference to, and in accordance with, the general authority to repurchase ordinary shares at the Company's AGM scheduled for 10 May 2024 (or at an earlier EGM, as applicable) and these may be repurchased on either Euronext Dublin or the London Stock Exchange. The Share Buyback Programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014/EU, the Commission Delegated Regulation (EU) 2016/1052 and the Commission Delegated Regulation (EU) 2016/1052 (also as in force in the United Kingdom ("UK"), from time to time, including, where relevant, pursuant to the UK's Market Abuse (Amendment) (EU Exit) Regulations 2019 as well as the applicable laws and regulations of Euronext Dublin and the London Stock Exchange.

The Share Buyback Programme may be supplemented by the purchase of ordinary shares by way of block trades in accordance with the Company's general authority to repurchase shares. The maximum consideration payable by the Company under the Share Buyback Programme will be reduced by the corresponding amount of capital returned through block trades.

Details of any ordinary shares repurchased will be notified to a Regulatory Information Service by the Company following any repurchase. The Company confirms that it currently has no unpublished inside information.

-ENDS-

For further information, contact:

Cairn Homes plc                  +353 1 696 4600

Tara Grimley, Company Secretary

Declan Murray, Head of Finance and Treasury

Drury Communications                 +353 1 260 5000

Billy Murphy

Claire Rowley        

Notes to Editors 

Cairn Homes plc (“Cairn”) is an Irish homebuilder committed to building high-quality, competitively priced, sustainable new homes and communities in great locations. At Cairn, the homeowner is at the very centre of the design process. We strive to provide unparalleled customer service throughout each stage of the home-buying journey. A new Cairn home is expertly designed, with a focus on creating shared spaces and environments where communities thrive. Cairn owns a c. 16,300 unit landbank across 34 residential development sites, over 90% of which are located in the Greater Dublin Area (“GDA”) with excellent public transport and infrastructure links.