Companies

Ires Reit’s largest shareholder Capreit cuts stake in company ahead of EGM

Capreit sold 750,000 of the company’s shares on Wednesday, decreasing its stake to 18.5 per cent

It comes just over a week before Ires Reit’s extraordinary general meeting (EGM) next Friday, where shareholders will be asked to vote on whether to replace five existing Ires Reit directors with five nominees put forward by activist investor Vision Capital

Capreit, the largest shareholder in Ires Reit, sold 750,000 shares in the company yesterday.

The move reduces its shareholding in Ires Reit to around 18.5 per cent, down from around 18.7 per cent.

It comes just over a week before Ires Reit’s extraordinary general meeting (EGM) next Friday, where shareholders will be asked to vote on whether to replace five existing Ires Reit directors with five nominees put forward by activist investor Vision Capital.

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