Result of Extraordinary General Meeting

RNS Number : 1870R

Cairn Homes plc

26 February 2019

 

26 February 2019

Cairn Homes p.l.c.

Results of EGM

Dublin/London, 26 February 2019: The Board of Directors of Cairn Homes p.l.c. ("Cairn", or the "Company") (Euronext Dublin/LSE: CRN), are pleased to announce that the resolution (the "Resolution") proposed at the Extraordinary General Meeting held in Dublin today to approve, subject to confirmation by the High Court, an increase of the distributable reserves of the Company by the transfer of an amount of up to €550 million from the Company's undistributable reserves (namely the share premium account) to the distributable reserves of the Company by means of a cancellation under the Companies Act 2014 of a corresponding amount of the share premium account, has been duly passed.

Full details of the Resolution was set out in the circular published by the Company on 1 February 2019 (the "Circular"). The Circular is available for inspection in electronic form on the Company's website, www.cairnhomes.com.

Details of the proxies from Shareholders in respect of the Resolution are set out below:

Resolution	For Number	%	Against Number	%	Withheld Number
Subject to the confirmation of the High Court, the cancellation of up to €550 million standing to the credit of the Company's share premium account on the date immediately preceding its approval and the reserves resulting from such cancellation to be treated as profits available for distribution.	496,434,576	100	0	0	0

Notes:

1.     Percentages are expressed as a proportion of the total votes cast (which does not include votes withheld).

2.     A "vote withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" the Resolution.

3.     Any proxy appointments which gave discretion to the Chairman have been included in the "For" totals.

-ENDS-

For more information, please contact:     

Cairn Homes plc                                                                                                                               [phone]

Michael Stanley

Tim Kenny

Drury Porter Novelli                                                                                                                       [phone]
Billy Murphy

Morwenna Rice

Louise Walsh

Finsbury                                                                                                                                              [phone]

Gordon Simpson

Charles O'Brien

Notes to Editors

Cairn Homes p.l.c. is the leading Irish homebuilder committed to building high-quality sustainable homes in excellent locations and providing unparalleled customer service at each stage of the home-buying journey. Cairn's highly experienced management team has a clear vision of delivering innovative and thoughtfully designed homes which meet market demand and enhance communities by placing home owners at the very centre of the design process. The Company owns 33 residential development sites with capacity for over 14,500 new homes, over 90% of which are located in the Greater Dublin Area (GDA) with excellent public transport and infrastructure links. Cairn is today building on 13 sites in the GDA, which will deliver over 4,750 new homes.

 

END

 

 

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