Cairn Homes plc is an Irish homebuilder with a highly experienced management team who have a strong track record of delivering high quality homes in Ireland and the United Kingdom. The Company has a clear strategy to deliver high quality new homes with an emphasis on design, innovation and customer service, in urban areas of Ireland, with a focus on Dublin, the Dublin commuter belt, Galway, Cork and other large cities, where the Directors believe economic trends are supportive of housing demand and pricing.

Project Clear Asset Transfers and Site Acquisition
RNS
RNS Number : 9213R
Cairn Homes plc
14 March 2016



Press release



Cairn Homes Plc Announces First Asset Transfers under Project Clear and a Further Site Acquisition

Dublin/London, 14 March 2016: Cairn Homes Plc (LSE:CRN), ("the Company") the Irish homebuilder, today announces the first of its asset transfers under the recently acquired Ulster Bank Project Clear loan portfolio.

The Company expects to make prompt progress on its loan-to-own strategy, as evidenced by the fact that three separate development sites (15% of the Project Clear portfolio) have now moved into the Company's direct asset ownership just three weeks after the end of the sub-participation period (ended 19 February). Those sites are

· A one acre site in Stillorgan, Co. Dublin (formerly Blakes restaurant);

· An eight acre site at Cross Avenue, Blackrock, Co. Dublin; and

· A six acre site at Moyglare in Maynooth.

In a separate transaction, Cairn has contracted to acquire an additional site adjacent to the Moyglare site referred to above, from York Capital, at a cost of €27 million. The acquisition of this site, which adjoins NUI Maynooth, increases the value of the combined holding, creating the potential for a 430 unit housing development in a town with significant demand, in addition to a 500-bed student accommodation scheme.

Michael Stanley, CEO, of Cairn Homes said;

"We are delighted to announce the first site transfers under our Project Clear loan-to-own strategy, just three weeks after Cairn assumed all rights and obligations associated with this portfolio. The separate Maynooth site acquisition adds value to the adjoining Project Clear asset, creating potential for one of the largest developments in Maynooth, a key student and Dublin commuter belt community, as well as a prime location for foreign direct investment into Ireland."



-ENDS-

10:20 23/08/2016
Broker Forecast - Davy Research issues a broker note on Cairn Homes Plc

Davy Research today reaffirms its outperform investment rating on Cairn Homes Plc (LON:CRN) and set its price target at 30p. Story provided by StockMarketWire.com

Not much recent info, it would be nice to know how things were progressing with the major road network (mentioned in post 12) for a start. Just seems to be slow on releasing news, unless there is no news to release which dampens enthusiasm.
That's some upside on current sp.
2517

2517GEORGE - Not in this, just interested in watching. I may be wrong but the sp currently stands at just over a Euro. A euro converted back to pounds equals about 86p. So the broker note of 36p is not very encouraging. The sp is not 1.01 pence but 1.01 Euros.

DC that seems strange given the broker's outperform rating. Confess I thought it was 1.01p.
2517

Looks like a broker error ?

Interim results

dc are you still in these?

No, 2517GEORGE, sat on the side line and never invested. Are you?

dc the sp has gone up significantly, so of course I haven't been in them, did the same as you. Holders will have their fingers crossed hoping I don't buy in. Ha! Ha!

The company seems to be doing very well judging by the sp.

Your post 9 worried me. :-))

dc I'm broke, haven't got a penny to my name, zilch mondiflous, no money, skint, so it's not worth trying to claim off me. LOL

Mind you my post (9) was right re the direction of the sp

Your the richest man on here. lol

I wish.

Could do very well in the future. IC buy this week.