Companies

Vision Capital accuses Ires Reit board of ‘misleading’ investors as bitter row escalates

The Canadian fund said the current board of Ires cannot be trusted, cannot create value and is not capable of running a strategic review process

Jeffrey Olin is chief executive of Vision Capital, the Canadian fund which holds a 5 per cent stake in Ires Reit

Vision Capital, the Canadian investment fund, has issued a detailed and stinging response to the recent circular note issued by Ires Reit, and accused the board and management of the Irish property company of mismanaging the firm’s balance sheet and misleading shareholders.

In a lengthy note published on Thursday evening, Vision Capital said the circular issued last week by Ires was “inaccurate, misleading, inflammatory, and alarmist”, and said the company’s board should not be trusted ...