Cairn Homes plc High Court Approval of Capital Reduction (9207X)
May 02 2019 - 8:10AM
UK Regulatory
TIDMCRN
RNS Number : 9207X
Cairn Homes plc
02 May 2019
Cairn Homes plc Announces High Court Approval of Capital
Reduction
2 May 2019: Cairn Homes plc ("Cairn", or the "Company")
(Euronext Dublin/LSE: CRN), the leading Irish homebuilding company,
today announces that further to resolutions passed by shareholders
at an Extraordinary General Meeting of the Company on 26 February
2019, the Irish High Court has approved the Company's application
to confirm a special resolution to reduce the amount standing
credited to the Company's share premium account by EUR550,000,000
such that the reserve resulting from the reduction shall be treated
as profits available for distribution within the meaning of section
117 of the Companies Act 2014.
The Order of the Court has been registered with the Registrar of
Companies in Ireland and accordingly, the capital reduction has now
become effective.
-ENDS-
For further information, contact:
Cairn Homes plc
+353 1 696 4600
Michael Stanley
Tim Kenny
Drury Communications
+353 1 260 5000
Billy Murphy
Morwenna Rice
Louise Walsh
Finsbury +44 207 251 3801
Gordon Simpson
Charles O'Brien
Notes to Editors
Cairn Homes plc ("Cairn") is the leading Irish homebuilder
committed to building high-quality, competitively-priced,
sustainable new homes in great locations. Cairn operates a defined
and established business model which brings together the best town
planners, architects, subcontractors and designers in collaboration
with our own experienced team. At Cairn, the homeowner is at the
very centre of the design process and we strive to provide an
unparalleled customer service throughout each stage of the
home-buying journey. A new Cairn home is thoughtfully designed and
built to last with a focus on creating shared spaces and
environments where communities prosper. Cairn owns a c. 15,100 unit
land bank across 32 residential development sites, 90% of which are
located in the GDA with excellent public transport and
infrastructure links. Cairn is today building on 14 sites in the
GDA, which will deliver 5,000 new homes.
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END
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