I-RES launches in-depth strategic review

Irish Residential Properties REIT plc (I-RES) has announced the commencement of a comprehensive strategic review following the release of its 2023 annual financial results. This decision, initially announced on January 8, 2024, aims to evaluate all strategic options to maximize value for shareholders. The review will be led by a board committee, including the new chairman, Hugh Scott-Barrett, and two non-executive directors, with the support of Savills, a real estate advisory firm, and other international financial advisors.

The options under consideration will include new strategic initiatives, mergers, asset sales, or other corporate actions. The review follows in-depth discussions with shareholders, who have expressed their support for this initiative. I-RES plans to keep the market informed of significant developments throughout the review process, with the first update expected before the AGM in May. However, there is no certainty regarding the outcome of this review or the completion of a transaction.