Cairn shareholders back €14m land deal with director
House builder buying a site belonging to founder and shareholder Alan McIntosh
House builder buying a site belonging to founder and shareholder Alan McIntosh
Irish company’s chief executive Michael Stanley and non-executive director Alan McIntosh each acquired 500,000 shares on Monday
CEO Michael Stanley received €382,000 bonus despite 43% drop in builder’s share value
Some 27m of so-called founder shares held by directors will be converted into ordinary stock
Analysts estimate move will dilute value of company’s shares by 5.4 per cent
Housebuilding company converting shares to ordinary stock under incentive scheme
Michael Stanley, his brother, Kevin, and investor Alan McIntosh hold founder shares in the company
Directors’ pay of €1.7m revealed in first annual report since flotation
Irish housebuilder said market capitalisation of firm is €429.7m
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