Minority shareholder in landlord Ires seeks €425k from firm to cover failed board campaign

Ires is the largest private landlord in the country

Ires Chairman Declan Moylan and chief executive Margaret Sweeney following the company's EGM in February where motions from Vision Capital were defeated. 

The minority stakeholder behind attempts to replace members of the Irish Residential Properties REIT (Ires) board is seeking reimbursement of €425,000 from the company’s shareholders to cover the cost of running its failed campaign.

At an extraordinary general meeting (EGM) in February, Vision Capital, which owns 5% of Ires, had sought a shareholder vote on replacing five board members with its own nominees as well as a resolution which could force a sale of Ires and its assets over the coming years.