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Glenveagh Properties on track to deliver sales target; unveils €75m share buyback
StockMarketWire.com
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Homebuilder Glenveagh Properties said it remained on track to delivering 1,150 sales in 2021 and detailed plans to commence a share buyback programme of up to €75 million on 28 May.
The company also said that John Mulcahy, executive chairman, would be transiting to a non-executive chairman role starting 1 January 2022.
Following a period of restrictions on construction activity, which began in early January, full operations resumed on the group's existing construction sites from the 12th of April.
The business had commenced construction on three new suburban sites which will deliver units from 2022, the company said.
As a result of the 'catch-up' in activity levels following the full re-opening of residential construction and global commodity price increases, the company said it was experiencing CPI of approximately 5% on current tenders which would largely impact on deliveries from 2022.
At 9:15am: (LON:GLV) Glenveagh Properties Plc share price was 0p at 0.83p
Story provided by StockMarketWire.com
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