Ires Reit

Iseq index sheds more than 1% as Ryanair falls

Settlement this week will see Ires support nomination of two Vision Capital candidates to board at the apartment owner’s agm next month

Property group refused nomination of number-one candidate Vision had put forward

Ires Reit says offer of two board seats has been rejected by Canadian investment firm Vision Capital

Company has been subject to campaign to put itself up for sale

Euronext Dublin up marginally at close of business on muted day for investors following St Patrick’s Day holiday

Byrne to succeed Margaret Sweeney ahead of forthcoming agm and amid ongoing strategic review

Muted reaction by Ires’s share price shows market not getting carried away by new investor’s presence just yet

US investment firm with €106 billion of assets under management declined to shed light on Ires investment strategy

Ireland’s largest private-sector landlord sold €96.5m of property last year to help keep its debt burden under Reit limit of 50%

Investment firm had backed attempt to replace five directors at egm

Most investors that voted by proxy before meeting cast ballots against activist shareholder resolutions

Vision Capital’s egm motions were defeated but Ires has committed to a strategic review that could ultimately see the Irish private sector landlord sold or broken up

What is happening at Ireland’s biggest private sector landlord and why?

Issues had been identified last week with votes cast via platform provider Broadridge Financial Solutions

Vision Capital, looking to unseat board and break up the business, wants answers on ‘unprecedented’ announcement

Activist investor is attempting to replace five board members

Vision Capital is seeking to replacer five board members, including chairman Declan Moylan and chief executive Margaret Sweeney

Inside Business podcast with Ciarán Hancock

The board of Ires Reit has received a boost from an influential investor advisory firm ahead of an extraordinary general meeting (egm) this month

Iseq index finished down 0.6%, weighted down by banks and packaging names

The best news, analysis and comment from The Irish Times business desk

Canadian firm set to support planned boardroom coup at property group

Losing support of founding shareholder Capreit’s 19% stake in advance of crucial vote is a blow to property group

Move comes ahead of extraordinary general meeting next month

Seen & Heard: BT-Arnotts’ ‘car-free Dublin’ warning; tax debt deadline extension; Tara Mines rescue plan rejected; Cadbury site plans

Each side accusing the other of seeking to mislead shareholders as State’s largest private landlord prepares to vote on its future

Seen & Heard: Shareholder considers breakup of Ires Reit, two five-star Dublin hotels in sale process, and Tesco bets big on reverse vending machines

Pan-European Stoxx 600 suffers third consecutive day of losses

Move provides continuity at a time when the apartments owner is fighting against an attempted boardroom coup by an activist investor

The best news, analysis and comment from The Irish Times business desk

Nation's biggest private landlord under pressure from activist investor

Board has urged shareholders to vote against a series of proposals from Vision Capital

Ires and other European property stocks have rallied since late October amid hopes the ECB will cut rates at pace next year

Toronto-based Vision Capital is calling for an extraordinary general meeting in bid to replace five directors of the Republic’s largest private residential landlord

Women hold just 13% of all executive board positions in Iseq 20 firms, while number of women non-executive director roles is on the increase

Irish athlete and event management company signs 10-year lease with Ires Reit for 3,194sq ft unit at Beacon South Quarter

BP tumbles as chief executive plays down takeover talk after disappointing results

Ires grew sharply under chief executive’s leadership yet shares have fallen sharply in past 18 months

Proceeds will be used to reduce higher cost debt