Cairn Homes Regulatory News (CRN)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: CAIRN HOMES PLC

2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:Alan McIntosh

City and country of registered office (if applicable):

4. Full name of shareholder(s) (if different from 3.)v:Emerald Everleigh Limited Partnership

Prime Developments Ltd

5. Date on which the threshold was crossed or reachedvi:12 September 2017

6. Date on which issuer notified:13 September 2017

7. Threshold(s) that is/are crossed or reached:

5%

8. Total positions of person(s) subject to the notification obligation:

% of voting rights attached to shares (total of 9.A)

% of voting rights through financial instruments(total of 9.B.1 + 9.B.2)

Total of both in % (9.A + 9.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

4.74%

4.74%

761,672,549

Position of previous notification (if applicable)

5.77%

5.77%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00BWY4ZF18

36,086,153

4.74%

SUBTOTAL A

36,086,153

4.74%

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash settlementxii

Number of voting rights

% of voting rights

SUBTOTAL B.2

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Alan McIntosh is a beneficiary of the Landmark Trust, a discretionary trust constituted under English and Welsh law. Weighbridge Trust Limited (a company incorporated in Guernsey) is the trustee of the Landmark Trust. 

Weighbridge Trust Limited (as trustee) is the 100% parent of Prime Developments Limited, a company incorporated in Guernsey.

The units in The Emerald Fund ICAV are held by Prime Developments Limited. The Emerald Opportunity Investment Fund, a sub fund of The Emerald Fund ICAV, is the sole limited partner and economic beneficiary of Emerald Everleigh Limited Partnership.

Emerald Everleigh Limited Partnership (''EELP'') & Prime Developments Ltd (''PDL'') are the registered holder of the interests described in 9A.

EELP's shareholding is 16,743,507 representing 2.20% of the issued ordinary share capital of Cairn Homes plc. EELP disposed of 7,825,945 of the ordinary shares of Cairn Homes plc, which is the subject of this notification.

PDL's shareholding is 19,342,646 representing 2.54% of the issue share capital of Cairn Homes plc. PDL did not participate in this notifiable transaction and therefore its shareholding is not the subject of this notification.

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional informationxvi: