Cairn Homes founders complete €23m share sale

Cairn Homes co founders Michael Stanley and Alan McIntosh

Cairn Homes co-founders Michael Stanley and Alan McIntosh, and former chief operating officer Kevin Stanley have netted €22.78m (£19.65m) after completing the sale of 17m shares on the Irish housebuilder.

The trio sold the shares at €1.34 a share in a placing conducted through Goodbody Stockbrokers and Numis Securities. This represented a 5% discount to yesterday’s closing price.

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