On January 27, 2024, IRES REIT stated that CAPREIT chief executive Mark Kenney told that CAPREIT will vote with Vision Capital for a resolution at an extraordinary general meeting for a sale or break-up of the business and vote in favor of resolutions to replace 5 existing board members with candidates Vision Capital has put forward. In addition, the Company stated that the CAPREIT declaration marks a significant setback for the Company as it seeks to rally investors behind a plan for its current board to lead a strategic review, and the board unanimously believed that its proposed strategic review is in the best interests of all shareholders and reaffirms its recommendation that shareholders vote against all of Vision s proposals.