Irish Residential Properties REIT shareholders reject board reshuffle at EGM despite major dissent

Over 20% of votes in favour

Irish Residential Properties REIT shareholders have rejected the resolutions for the removal and replacement of the trust’s directors put forward by shareholder Vision Capital despite significant dissent.

At an extraordinary general meeting held on 16 February, shareholders voted on Vision Capital's proposal to reshuffle the five directors. In a London Stock Exchange notice published on that same day, the board noted that over 20% of votes cast were against their recommendation and in favour of activist investor Vision Capital's resolutions. The result "reflects well publicised differences of opinion", the directors said. Irish Residential Properties REIT urges shareholders to reject activist investor EGM proposals "The board takes seriously its responsibility to understand sharehol...