Amid an increasingly heated war of words between Ireland's largest private landowner and the 5% shareholder, who launched an activist campaign last April, Vision hopes that candidates appearing at next month's general meeting will be able to independently vote for all shareholders. claimed to represent the interests of
In one of the harshest criticisms ever made, Vision declared that it had “never encountered a board as consistently brazen, misaligned, and stubborn” as Ailes.
The latest clash centers on the independence of Vision's five director nominees, with the Canadian fund working with one of Ireland's leading law firms to ensure all are subject to the UK's Corporate Governance Code. It has been confirmed that the standards have been met.
Special defense of Ewing Morris advisor Amy Friedman, who owns 0.7% of Aires. Vision said it has no relationship with Ewing Morris or Friedman other than appointing Ewing Morris to its board of directors. “Ewing Morris supports Vision's efforts as an independent shareholder. Any other innuendo or suggestion by Ailes to the contrary is simply misleading and inaccurate.”
Asked to comment on Ewing's 0.7% stake, Friedman replied: “Please explain to me under what rules I would lose my independence.”
Vision also defended the appointment of Colin Loader, Goodbody's former head of real estate equity research, saying it had not offered or requested any payment. Contacted by the Irish Independent, Mr Lauder said: “To be clear, Aires' claims that I am 'involved in the vision' in accordance with the vision statement are false. Please be careful.''
The “activist investor” who is trying to force Aires REIT to sell its portfolio of about 4,000 apartments and homes and remove it from its board of directors is also trying to force Aires REIT to sell its portfolio of about 4,000 apartments and homes and remove it from its board of directors. Institute CEO Richard Nesbitt is acting only in an advisory role and has no control over its operations.
Goodbody analyst John Cronin said the vision statement constituted a “firm defense” and noted that even if these directors were elected at a general meeting, they may not support calls for change. did.
“We suspect they have some open-mindedness in this regard, and after reviewing internal documents (which we don't have access to at this time), they will make a firm assessment along with other board members.” Cronin said.
In a response statement, Ailes said Vision's latest announcement “makes clear that it does not have a coherent plan and that its approach has already changed since its January 18 response letter.” Ta.
It added: “The Board unanimously believes that the strategic review proposed by Aires is robust and that, following its outcome, it will be efficiently executed and that, by considering all options, it will maximize value for all shareholders.'' There is,” he added. The Board of Directors continues to encourage shareholders to vote against all resolutions at general meetings. ”
Vision said in a statement that “many institutional and individual shareholders have expressed support for the company's position,” but it has yet to find “evidence that committed investors support the status quo.” , it claims.
Caprito, the company's largest single shareholder, announced that it will vote in favor of Vision's resolution at the February 16th shareholders' meeting. Five other shareholders with significant stakes, including Fidelity and Ireland's largest investor, declined to say how they would vote.
