DJ I-RES Board Notes the Vision Response
Irish Residential Properties REIT plc (IRES)
I-RES Board Notes the Vision Response
19-Jan-2024 / 07:00 GMT/BST
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For immediate release
19 January 2024
Irish Residential Properties REIT plc
(the "Company" or "I-RES")
I-RES Board notes the Vision Response
The Board of Irish Residential Properties REIT plc ("I-RES") notes the press release and associated documents ("Vision
Response") published by Vision Capital (a 5% shareholder in I-RES) on 18 January 2024.
The Vision Response, which is under legal review, is misleading, contains inaccuracies and depends on unsupported
statements attributed to unidentified third parties. The Board stands by the contents of its circular which was
prepared to meet the standard set by the Irish Takeover Panel and published on 8 January 2024 (the "Circular"). I-RES
will respond in due course to the Vision Response and ahead of the EGM.
The Vision Response highlights the risks to shareholders of implementing Vision's narrowly focused plan to sell the
Company or its assets. As set out in the Circular, I-RES has sought to engage constructively with Vision and avoid the
unnecessary costs and potential damage which Vision's actions risk for I-RES' shareholders.
The Board continues to recommend that shareholders vote against the EGM resolutions proposed by Vision to seek to
control the Board of I-RES through the appointment of five Vision Nominees to the nine existing Board seats. The
Strategic Review announced by I-RES on 8 January 2024 should be overseen by the existing elected independent and
highly-skilled Board who have delivered strong operational performance and will evaluate all value maximisation options
in the interests of all shareholders.
END
For further information please contact:
For Investor Relations at Irish Residential Properties REIT plc:
Luke Ferriter, Investor Relations investors@iresreit.ie Tel: +353 (0) 1 563 4000
Margaret Sweeney, Chief Executive Officer Tel: +353 (0) 1 557 0974
For Media Queries:
Padraig McKeon, I-RES PR and Communications Tel: + 353 (0) 87 231 2632
Jonathan Neilan, FTI Consulting ires@fticonsulting.com Tel: +353 (0) 86 231 4135
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 www.iresreit.ie.
Important notices
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of
any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the
solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise.
The release, distribution or publication of this announcement in jurisdictions outside Ireland may be restricted by
laws of the relevant jurisdictions and therefore persons into whose possession this announcement comes should inform
themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities law of any such jurisdiction.
Responsibility Statement
The directors of I-RES accept responsibility for the information contained in this announcement. To the best of the
knowledge and belief of the directors (who have taken all reasonable care to ensure that such is the case), the
information contained in this announcement is in accordance with the facts and does not omit anything likely to affect
the import of such information.
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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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.: 298386
EQS News ID: 1818413
End of Announcement EQS News Service
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January 19, 2024 02:00 ET (07:00 GMT)
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