REG-Irish Residential Properties REIT plc Launch of Share Buyback Programme

Irish Residential Properties REITAnnouncement

20/03/2025 07:15

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Irish Residential Properties REIT plc (IRES)
Launch of Share Buyback Programme

20-March-2025 / 07:00 GMT/BST

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 20 March 2025

                                             

 

                          Irish Residential Properties REIT plc

                                             

                            Launch of Share Buyback Programme

 

 

On 20 February 2025, in its Full Year  Results for the year ended 31 December 2024,  I-RES
announced its intention  to launch  a share  buyback programme of  up to  €5 million  (the
"Buyback Programme").

 

I-RES today announces that  it is launching  its Share Buyback  programme and has  entered
into an  agreement with  J&E Davy  ("Davy") to  act as  principal to  conduct the  Buyback
Programme and to purchase ordinary  shares of €0.10 each  (the "Shares") on the  Company’s
behalf for a  maximum aggregate  consideration of  up to €5  million and  to make  trading
decisions under the  Buyback Programme  independently of  the Company  in accordance  with
certain pre-set parameters.

 

The Buyback Programme will commence  today and end no later  than 31 May 2025, subject  to
market conditions. The purpose of the Buyback Programme is to reduce the share capital  of
the Company, and all Shares repurchased will be cancelled. Under the terms of the  Buyback
Programme, the Shares will be repurchased  on Euronext Dublin. The Buyback Programme  will
be conducted in accordance with:

 

(i) the Company's general authority to repurchase Shares (which authorises the  repurchase
of a maximum of 79,436,841 Shares, being approximately 15% of the issued share capital  of
the Company) as approved by shareholders at the Company's AGM on 10 May 2024 (and as  such
authority may be renewed and/or amended) (the "Authority"); and

 

(ii) the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated  Regulation
(EU) No 2016/1052 as well  as the applicable laws and  regulations of the Central Bank  of
Ireland.

 

Details of  any Shares  repurchased under  the Buyback  Programme will  be notified  to  a
Regulatory Information Service by the Company following repurchase. Purchases may continue
under the Buyback  Programme during any  closed period  to which the  Company is  subject.
During any closed periods, I-RES and its directors have no power to invoke any changes  to
the Buyback Programme and it will be executed at the sole discretion of Davy. The  Company
confirms that it currently has no unpublished inside information.

 

There is no guarantee that the Buyback Programme  will be implemented in full or that  any
Shares will be bought back by the Company.

 

 

 

 

END

For further information please contact:

Investor Relations:

Eddie Byrne, Chief Executive Officer              Tel: +353 (1) 5570974

email:  1 investors@iresreit.ie

Media enquiries:

Cathal                                                                              Barry,
Drury                                                                                     
Tel: +353 (0) 87 227 9281

Gavin                                                                          McLoughlin,
Drury                                                                                 Tel:
+353 (0) 86 035 3749

email: iresreit@drury.ie

 

About Irish Residential Properties REIT plc

Irish Residential  Properties  REIT  plc  (“I-RES”)  is  a  growth  oriented  Real  Estate
Investment Trust providing quality professionally managed homes in sustainable communities
in Ireland. I-RES aims to be the provider of choice for the Irish living sector, known for
excellent service and for operating responsibly, minimising its environmental impact,  and
maximising its contribution to the community. The Company's shares are listed on  Euronext
Dublin. Further information at  2 www.iresreit.ie.

 

This note applies if and to the  extent that there are forward-looking statements in  this
Announcement.

This Announcement may contain forward-looking statements,  which are subject to risks  and
uncertainties because they relate to expectations, beliefs, projections, future plans  and
strategies, anticipated events or trends, and similar expressions concerning matters  that
are not historical facts. Such forward-looking statements involve known and unknown risks,
uncertainties and  other factors,  which  may cause  the  actual results,  performance  or
achievements of  the Company  or  the industry  in which  it  operates, to  be  materially
different from any  future results, performance  or achievements expressed  or implied  by
such forward-looking  statements.  The  forward-looking statements  referred  to  in  this
paragraph speak only as at the date of this Announcement. Except as required by law or  by
any appropriate regulatory  authority, the Company  will not undertake  any obligation  to
release publicly any revision  or updates to these  forward-looking statements to  reflect
future events, circumstances, unanticipated events, new information or otherwise.

 

 

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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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   ISIN:          IE00BJ34P519
   Category Code: MSCM
   TIDM:          IRES
   LEI Code:      635400EOPACLULRENY18
   Sequence No.:  379573
   EQS News ID:   2103358


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:investors@iresreit.ie
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=69193c58673bda82b8867e09925c0315&application_id=2103358&site_id=reuters~~~787b94c3-8286-43cc-98b3-26b1dc52d810&application_name=news


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