Irish Residential Properties REIT PLC - Dublin-based real estate investment trust - Continues to recommend shareholders vote against the resolutions proposed by Vision Capital Corp at the extraordinary general meeting due to be held on February 16. Vision, a 5% shareholder in Irish Residential, requisitioned the EGM, proposing resolutions that would remove five of the board's nine existing directors and replace them with Vision's nominees. The resolutions also seek shareholder direction to appoint an advisor with a view to selling Irish Residential or its assets, or to liquidating the company, within the next 24 months. Irish Residential claims that statements made by Vision last week are "misleading" and contain "inaccuracies". It says Vision's "narrowly focused plan to sell the company or its assets" carries risks for shareholders, and the company touts instead the strategic review that it announced earlier this month, "overseen by the existing elected independent and highly-skilled board".
Current stock price: EUR1.15
12-month change: up 2.9%
By Tom Waite, Alliance News editor
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