Private landlord Ires pushes back against demands from investment firm

Ires board recommends that all shareholders vote against  resolutions by firm, which includes demands for seats on the board and a review into the potential sale of the company

Irish Residential Properties Reit (Ires) chair Declan Moylan with retiring company chief executive Margaret Sweeney at the company's AGM last May. 

The board of the State’s largest private landlord Irish Residential Properties Reit (Ires) has recommended shareholders vote against all resolutions brought by Vision Capital at its upcoming EGM, which includes demands for seats on the board and a review into the potential sale of the company.

Vision Capital is an activist investment firm which owns 5% of the company. Last month, it requisitioned the company to convene an EGM for shareholders to consider and vote upon the removal and replacement of five directors of the Ires board of directors.