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Irish Residential Properties REIT plc (IRES)
Irish Residential Properties REIT plc (the “Company” or “I-RES”)
Receipt of Requisition Notice
18 December 2023, Dublin | Following the announcement made by Vision Capital Corporation ("Vision Capital" or “Vision”) earlier today, the Company confirms that it has received a letter and accompanying notice dated 18 December 2023 from Vision Capital, seeking to requisition an extraordinary general meeting (“EGM”) of the Company under section 178 of the Companies Act 2014 (the "Requisition").
The Requisition proposes to remove five existing directors from the Board of the Company, with five new directors proposed as replacements, and also requests the Board put forth a resolution to require the Company to initiate a strategic review process.
The Board considers that Vision Capital’s actions are part of a campaign to undermine the good governance of the Company and to override normal corporate governance standards. The Board believes an EGM is not in the interests of the Company’s shareholders and wider stakeholders.
The Board is in the process of reviewing the content and validity of the Requisition with its advisers. A further announcement will be made in due course. In the meantime, shareholders are urged to take no action.
For further information please contact:
For Investor Relations:
Irish Residential Properties REIT plc Luke Ferriter, Investor Relations Tel: +353 (0) 1 563 4000 Margaret Sweeney, Chief Executive Officer Tel: +353 (0) 1 557 0974
For Media Queries:
Jonathan Neilan, FTI Consulting Tel: +353 (0) 86 231 4135 Melanie Farrell, FTI Consulting Tel: +353 (0) 86 401 5250
About Irish Residential Properties REIT plc Irish Residential Properties REIT plc (I-RES) is a growth oriented Real Estate Investment Trust providing quality professionally managed homes in sustainable communities in Ireland. The Group owns 3,734 apartments and houses for private rental in Dublin and Cork. I-RES aims to be the provider of choice for the Irish living sector, known for excellent service and for operating responsibly, minimising its environmental impact, and maximising its contribution to the community. The Company's shares are listed on Euronext Dublin. Further information at -res.ie.
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | IE00BJ34P519 |
| Category Code: | MSCH |
| TIDM: | IRES |
| LEI Code: | 635400EOPACLULRENY18 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 292680 |
| EQS News ID: | 1799193 |
| End of Announcement | EQS News Service |
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