Cairn Homes (GB:CRN) has released an update.
Cairn Homes’ CEO, Michael Stanley, is set to sell up to 8 million shares, representing 1.3% of the company, through an accelerated bookbuild managed by Goodbody Stockbrokers. Post-sale, Stanley will retain about 2.3% of the company’s issued share capital, and has agreed not to sell any additional shares for six months. The bookbuild will be open to certain investors, with terms to be finalized by Goodbody and Stanley shortly.
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