Cairn Homes Plc Announces Changes in Major Holdings

Cairn Homes Plc (CRN) disclosed a significant change in its shareholding pattern as per a notification received on 25th March 2024. The update, stemming from the mandatory Standard Form TR-1 which reports major holdings, reveals the acquisition or disposal of voting rights by Lansdowne Partners International Limited and its affiliates.

According to the document, the event causing the notification was the crossing of the ownership threshold, resulting in Lansdowne Partners International Limited and related entities owning 7.99% of Cairn Homes voting rights as of 22nd March 2024. This marks a decrease from their previous notification, which showed an ownership of 8.91%.

The major shareholders listed include entities such as Nortrust Nominees Ltd and Morgan Stanley Client Securities Nominees Limited, among others, which indirectly hold the shares in question. This collective adjustment has put Lansdowne Partners International Limited underneath the 8% ownership threshold, a notable shift in the company's share distribution landscape.

The filing made public does not mention any acquisition or disposals of financial instruments that could further influence voting rights percentages. It also provides insight into the chain of control, with Lansdowne Partners International Limited being the apex of the ownership tree through Lansdowne Partners Limited and Lansdowne Partners (UK) LLP.