Business
€40 Million Share Buyback Programme
€40 Million Share Buyback Programme.
About this update from Cairn Homes Plc
[{"type":"text","content":"\n \n\n\nCairn Homes Plc (CRN)\n\n\n\nCairn Homes Plc: €40 Million Share Buyback Programme03-March-2023 / 07:00 GMT/BST\n\n\n \n\n \n\nCairn Homes plc\n\n€40 Million Share Buyback Programme\n\n \n\nDublin / London, 3 March 2023: Cairn Homes plc (“Cairn”, “the Company” or “the Group”) (Euronext Dublin: C5H / LSE: CRN), today announces following the release of its FY 2022 Preliminary Results on 2 March 2023, the commencement of a share buyback programme to repurchase ordinary shares of up to €40 million. \n\n \n\nThe Company has entered into 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 €40 million (the “Share Buyback Programme).\n\n \n\nThe Share Buyback Programme will commence today, 3 March 2023, and may continue until 31 December 2023 subject to market conditions, the ongoing capital requirements of the business and termination provisions customary for arrangements of this nature. The maximum number of ordinary shares to be repurchased under the Share Buyback Programme is (i) initially 85,510,790 pursuant to the Company's general authority to repurchase ordinary shares approved by shareholders at the Company's AGM on 12 May 2022 (the \"2022 Repurchase Authority\") 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 11 May 2023 (or at an earlier EGM, as applicable) (the \"2023 Repurchase Authority\") and these may be repurchased on either Euronext Dublin or the London Stock Exchange. The purpose of the Share Buyback Programme is to reduce the Company's share capital. It is intended that the shares repurchased will be cancelled.\n\n \n\nGoodbody 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.\n\n \n\nThe Share Buyback Programme will be conducted (i) initially in accordance with the 2022 Repurchase Authority, and the continuation of the Share Buyback Programme will be contingent on the approval of the shareholders of the 2023 Repurchase Authority a...