Cairn Homes Plc Announces Change in Significant Shareholdings

Cairn Homes Plc (CRN) disclosed that abrdn plc's affiliated investment management entities have crossed a notable threshold in the company’s shareholdings. On March 19, 2024, the entities acquired additional voting rights in Cairn Homes, which led to their total voting power in the company reaching 3.40%, up from the previous position of 2.99%.

These shares, totaling 21,942,158 voting rights, represent a direct interest in the company, without any reliance on financial instruments to enhance their voting power. This adjustment signals a modest but significant increase in abrdn plc’s stake in the Irish homebuilding company.

The declaration of this change was made in accordance with regulatory obligations to the Central Bank of Ireland, underscoring the transparency and ongoing monitoring of shareholding structures within publicly traded companies. This notification is part of the standard procedure to inform both the issuer and the central regulatory authority when major shareholding thresholds are crossed.