I-RES and Vision enter into a Co-Operation Agreement - Seite 2

Under the Company’s constitution the maximum permitted number of Directors on the Board is nine. To facilitate the appointment of the two Vision nominees, the Company’s executive director Brian Fagan will not seek re-election to the Board at the 2024 AGM, thus ensuring the Board continues to meet its independence requirements in line with best practice corporate governance. Mr Fagan’s position as CFO will not be impacted by this change.

Hugh Scott-Barrett, Chairman of the Board I-RES said:

“The Co-Operation Agreement with Vision provides a constructive framework to address the maximisation of value for shareholders. It enables the Board and management to fully focus on the Strategic Review, the CEO transition and the continued strong operating performance of the business. We look forward to updating shareholders on the progress of the Strategic Review ahead of our AGM in May”.

Jeff Olin, the President & CEO and Portfolio Manager of Vision said:

"We are pleased with the proposed appointments of Richard Nesbitt and Amy Freedman.  We look forward to the outcome of the strategic review and the maximisation of the value inherent in IRES for all shareholders."

END

For further information please contact:

For Investor Relations at Irish Residential Properties REIT plc:

Luke Ferriter, Investor Relations [e-mail]  Tel: [phone]

Margaret Sweeney, Chief Executive Officer Tel: [phone]

For Media Queries:

Padraig McKeon, I-RES PR and Communications Tel: + 353 (0) 87 231 2632

Jonathan Neilan, FTI Consulting [e-mail]  Tel: [phone]

 

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.