It said that it has sought to “constructively engage” with Vision Capital’s requests for non-executive director and management meetings.
The board also highlighted that the stock has outperformed the wider Stoxx Europe 500 real estate index by 6.4 per cent since December 2021, against “a challenging backdrop” while also delivering 6.5 per cent revenue growth last year. The board’s response also outlines plans to dispose of non-core assets worth in excess of €100 million, including a residential site at Rockbrook in Sandyford Business District, Dublin 18. The Irish Times reported in February that the company was likely to sell about €50 million of assets in 2023 to ensure it has sufficient headroom over legal and financial debt covenants.
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