SHENZHEN, China, Oct. 6, 2020 /PRNewswire/ -- Nam Tai
Property Inc. ("Nam Tai" or the
"Company") (NYSE Symbol: NTP) today announced that its Board
requested additional information from IsZo Capital Management LP
(together with its affiliates, "IsZo") to complete the Board's
previously announced evaluation of IsZo's request calling for the
Company to hold a special meeting of shareholders.
The Board, in consultation with its advisors and legal counsel,
continues to review the purported request from IsZo. Based on the
information provided to date, the Board has not yet determined
whether the request from IsZo is valid and in accordance with the
Company's governing documents and relevant British Virgin Island
laws. In line with its fiduciary duties, the Board has requested
additional information from IsZo to help it determine the validity
of the request.
The Company noted that shareholders are not required to take any
action at this time. The Company also noted that there has been no
special meeting convened at this time, and no record date has been
set by the Nam Tai Board of Directors.
The Board and management team are committed to acting in the
best interests of the Company and all Nam
Tai shareholders, and are receptive to ideas that advance
the Company's goal of enhancing shareholder value.
Forward-looking Statement and Factors that Could Cause our
Share Price to Decline
Certain statements included in this press release, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "may", "might", "can",
"could", "will", "would", "anticipate", "believe", "continue",
"estimate", "expect", "forecast", "intend", "plan", "seek", or
"timetable". These forward-looking statements, which are subject to
risks, uncertainties, and assumptions, may include projections of
our future financial performance based on our growth strategies and
anticipated trends in our business and the industry in which we
operate. These statements are only predictions based on our current
expectations about future events. There are several factors, many
beyond our control, which could cause results to differ materially
from our expectation. These risk factors are described in our
Annual Report on Form 20-F and in our Current Reports filed on Form
6-K from time to time and are incorporated herein by reference. Any
of these factors could, by itself, or together with one or more
other factors, adversely affect our business, results of operations
or financial condition. There may also be other factors currently
unknown to us, or have not been described by us, that could cause
our results to differ from our expectations. Although we believe
the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity,
performance, or achievements. You should not rely upon
forward-looking statements as predictions of future events. These
forward-looking statements apply only as of the date of this
announcement; as such, they should not be unduly relied upon as
circumstances change. Except as required by law, we are not
obligated, and we undertake no obligation, to release publicly any
revisions to these forward-looking statements that might reflect
events or circumstance occurring after the date of this press
release or those that might reflect the occurrence of unanticipated
events.
ABOUT NAM TAI PROPERTY INC.
We are a real estate developer and operator, mainly conducting
business in Mainland China. Our main land resources are located in
the Guangdong-Hong Kong-Macao
Greater Bay Area ("Greater Bay Area") and Wuxi, China, of which the three plots in
Shenzhen will be developed into
Nam Tai Inno Park, Nam Tai Technology Center and Nam Tai Inno Valley. We plan to build these
technology parks into landmark parks in the region and provide
high-quality industrial offices, industrial service spaces and
supporting dormitories to the tenants. Based on the experience of
developing and operating technology parks and an industrial
relationship network accumulated over the past 40 years, we have
also exported the operation model of technology parks to other
industrial properties. Through an asset-light model, we have leased
industrial properties for repositioning and business invitation. We
will also expand the commercial and residential property business
in China as an auxiliary
development strategy of the Company. As the growth prospects of
China maintain, we shall seize
development opportunities in the Greater Bay Area and other first-
and second-tier cities in China,
and continue to strengthen and expand the business of industrial
real estate, and commercial and residential properties. Nam Tai
Property Inc. is a corporation registered in the British Virgin Islands and listed on the New
York Stock Exchange (Symbol: "NTP"). Please refer to our corporate
website (https://www.namtai.com/) or the SEC website (www.sec.gov)
for our press releases and financial statements.
Contacts
Ed Trissel / Amy Feng / Mahmoud
Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
Namtai-jf@joelefrank.com
Investor Relations Department
Nam Tai Property Inc.
E-mail: ir@namtai.com.cn
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SOURCE Nam Tai Property Inc.