Cairn Homes Plc: Appointment of Chief Financial Officer

Appointment of Chief Financial Officer

Richard Ball, an experienced real estate professional, will join Cairn as Chief Financial Officer

Dublin/London, 13 February 2024: Cairn Homes plc (“Cairn” or “the Company”) (Euronext Dublin: C5H / LSE: CRN), a leading Irish homebuilding company, today announces, following a comprehensive recruitment process, the appointment of Richard Ball as Chief Financial Officer (“CFO”), succeeding Shane Doherty. Richard will join the Company as CFO on 10 April 2024 and will join the Board as an Executive Director at the Annual General Meeting (“AGM”) on 10 May 2024.

Shane Doherty announced his intention to step down as CFO in October 2023, with an agreement to remain on the Board to support the transition to his successor. Shane will not seek re-election at the upcoming AGM and will leave the Company in the third quarter of this year, following an orderly transition of responsibilities to the new CFO.

Richard Ball

Richard Ball has over 18 years’ experience in the Irish property market, with extensive expertise in finance, capital markets, sustainability and investment.

He joins from Urbeo Residential, one of Ireland’s leading residential property businesses, where he was a Partner with responsibility for all finance and investment functions of the business. Prior to that, he served as Chief Investment Officer at Hibernia REIT plc, an Irish commercial real estate company, for a period of five years from its IPO. Richard also previously held several corporate finance roles at various organisations including at commercial property company, Clancourt Group.

Richard is a Fellow of Chartered Accountants Ireland, holds a Master of Accountancy from University College Dublin and a B.Sc. (Business Management) from Trinity College Dublin.

John Reynolds, Chairman of Cairn, said: "We are delighted to be appointing a high calibre candidate in Richard Ball as CFO. His deep experience in residential and other property sectors, in roles that cover finance, capital markets and sustainability, will be invaluable, given the Company’s momentum and trajectory, as we continue to focus on driving shareholder value. We look forward to welcoming him in April.”

“We would also like to again recognise Shane Doherty’s very significant contribution to Cairn and to thank him for his commitment to stay in role as part of an orderly transition to his successor.”

Richard Ball, incoming CFO said: "I am excited by the opportunity to join Ireland’s leading homebuilder with an ambitious vision for the future. I look forward to joining Michael and the team to continue to deliver on their strategy of increasing the supply of high quality, sustainable family homes in Ireland.”

-ENDS-

For further information, contact:

Cairn Homes plc                                                                                                                                                       +353 1 696 4600

Michael Stanley, Chief Executive Officer

Tara Grimley, Company Secretary

Stephen Kane, Director of Corporate Finance & Investor Relations

Declan Murray, Head of Finance & Treasury

Drury Communications               +353 1 260 5000

Billy Murphy

Gavin McLoughlin

Notes to Editors 

Cairn Homes plc (“Cairn”) is an Irish homebuilder committed to building high-quality, competitively priced, sustainable new homes and communities in great locations. At Cairn, the homeowner is at the very centre of the design process. We strive to provide unparalleled customer service throughout each stage of the home-buying journey. A new Cairn home is expertly designed, with a focus on creating shared spaces and environments where communities thrive. Cairn owns a c. 16,300 unit landbank across 34 residential development sites, over 90% of which are located in the Greater Dublin Area (“GDA”) with excellent public transport and infrastructure links.