Cairn Homes Plc Repurchases 100,000 Ordinary Shares as Part of Buyback Programme

Cairn Homes Plc repurchased 100,000 ordinary shares on Euronext Dublin and the London Stock Exchange through Goodbody Stockbrokers UC. The shares will be cancelled, reducing the company's total issued share capital.

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Nitish Verma
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Cairn Homes Plc Repurchases 100,000 Ordinary Shares as Part of Buyback Programme

Cairn Homes Plc Repurchases 100,000 Ordinary Shares as Part of Buyback Programme

On May 13, 2024, Cairn Homes Plc (CRN) repurchased a total of 100,000 of its ordinary shares of €0.001 each on Euronext Dublin and the London Stock Exchange through its broker, Goodbody Stockbrokers UC. The repurchased shares will be cancelled.

Why this matters: This share buyback programme reflects Cairn Homes Plc's commitment to managing its capital structure, which can have a significant impact on its financial performance and investor confidence. The programme's success can also influence the company's competitiveness in the industry and its ability to adapt to changing market conditions.

The purchases were made as part of the Company's detail share buyback programme announced on March 3, 2023. On Euronext Dublin, 65,000 ordinary shares were acquired at a highest price of €1.6840, a lowest price of €1.6640, and a volume weighted average price of €1.6730. On the London Stock Exchange, 35,000 ordinary shares were purchased at a highest price of £1.4480, a lowest price of £1.4320, and a volume weighted average price of £1.4378.

Following settlement and cancellation of the repurchased shares, Cairn Homes Plc will have a total of 646,715,027 ordinary shares in issue, each carrying the right to one vote. The Company does not hold any ordinary shares in treasury.

A detailed breakdown of the individual trades executed by Goodbody Stockbrokers UC on behalf of Cairn Homes Plc as part of the share buyback programme is provided in the appendix, in accordance with the requirements of Regulation (EU) No 596/2014 (Market Abuse Regulation).

The repurchase of 100,000 ordinary shares by Cairn Homes Plc reflects the company's commitment to its previously announced share buyback programme. The cancellation of the repurchased shares will result in a slight reduction of the company's total issued share capital. Cairn Homes Plc continues to actively manage its capital structure through this ongoing buyback initiative.

Key Takeaways

  • Cairn Homes Plc repurchased 100,000 ordinary shares on May 13, 2024.
  • Shares were bought on Euronext Dublin and London Stock Exchange at €1.67-1.68 and £1.43-1.45.
  • Repurchased shares will be cancelled, reducing total issued share capital.
  • Company will have 646,715,027 ordinary shares in issue after cancellation.
  • Buyback programme aims to manage capital structure and boost investor confidence.