On April 5, 2024, Irish Residential Properties REIT plc that it has received a request from Vision Capital Corporation to put a number of resolutions on the agenda for the Company?s annual general meeting, to be held on 2 May 2024. The Company stated that in its proposals, Vision seeks to have I-RES shareholders fund the costs of its campaign against I-RES of up to ?425,000. Vision is also seeking to put forward 3 nominees for appointment to the Board, all of whom were previously considered and rejected by shareholders at the recent extraordinary general meeting requisitioned by Vision.

The Company stated that despite significant efforts by the Board to find a fair and reasonable basis for a settlement with Vision, including the offer of 2 seats on the Company?s Board, to prevent further disruption to the Company?s ongoing Strategic Review and which avoids the continued unnecessary use of shareholder funds, an agreement has not been reached. Since the EGM on 16 February 2024, the Board has continued to constructively engage with Vision, seeking to address its concerns while balancing the broader interests of all the Company?s shareholders. The Company has in that engagement made successive constructive, good faith proposals to Vision culminating in an offer to recommend 2 of its nominees for appointment to the Board at the AGM, subject to the parties agreeing the terms of a co-operation agreement.

These discussions have not been successful to date.