NTP - NTP STOCK NEWS

Nam Tai Property Inc. (NYSE: NTP) recently held a special meeting where shareholders approved the reconstitution of the Board of Directors on November 30, 2021. Key outcomes included the removal of former directors and the appointment of new members, including Michael Cricenti as Chairman, Huang Zhichang as Interim CEO, and Steven Parker as Interim CFO. The new board aims to leverage their extensive experience in real estate investment and management to enhance corporate performance.

Nam Tai Property Inc. (NYSE: NTP) has undergone a significant board reconstitution, led by IsZo Capital Management, which owns approximately 15.2% of shares. Preliminary results from the recent Special Meeting indicate that nearly 60% of shareholders supported the election of a six-member board slate, including new independent directors. This pivotal change is expected to enhance corporate governance and improve capital allocation, unlocking value within Nam Tai's real estate portfolio. IsZo expressed gratitude for shareholder support during the challenging campaign.

Nam Tai Property Inc. (NTP) announced an update on a requisitioned meeting by Greater Sail Limited and other shareholders, who collectively hold over 30% of voting rights. Originally scheduled before December 23, 2021, the meeting will now take place on January 24, 2022. The board requested a delay due to the holiday season and reached a consensus with shareholders for the new date. No action is required from shareholders at this time. The company emphasized its ongoing operations in real estate development primarily in Mainland China.

Nam Tai Property Inc. (NTP) announced that its Board received a request from Greater Sail Limited and others, holding over 30% of voting rights, to convene a special meeting by December 23, 2021. This meeting aims to consider changes to the Board of Directors. The Board confirmed that the request complies with Company governance and British Virgin Islands laws. Shareholders are not required to take any action until the formal notice is issued. The announcement includes a forward-looking statement cautioning that various risks could impact future financial performance.

Nam Tai Property Inc. (NTP) has urged shareholders to vote against the removal of its current Board of Directors and the appointment of IsZo's nominees at the upcoming special meeting on November 30, 2021. The company reported a remarkable revenue growth of 3,134%, reaching approximately $84 million in the first nine months of 2021, with gross profit soaring to $52.6 million. Despite challenges in the real estate market, management secured a $164 million loan and increased its property holdings. Nam Tai emphasizes its commitment to shareholder value and operational transparency.

Nam Tai Property Inc. (NYSE Symbol: NTP) updated shareholders on the hearing held on November 8, 2021, regarding three applications after an October 4, 2021 judgment by the Eastern Caribbean Court of Appeal. The applications included a request for conditional leave to appeal to the Privy Council, a stay of execution for a special meeting of shareholders set for November 30, 2021, and a variation of the order limiting voting rights. The Court granted conditional leave to appeal, while the stay and variation requests were declined.

The Eastern Caribbean Court of Appeal has denied Nam Tai Property Inc.'s requests to delay a special shareholder meeting scheduled for November 30, 2021. This follows the court's ruling voiding a $170 million private placement with Kaisa Group's subsidiary, Greater Sail Limited. IsZo Capital Management, owning 15% of Nam Tai, supports the removal of Kaisa-affiliated directors, with nearly 60% of shares already voted for new independent candidates. The court's decision enhances shareholder democracy and governance reform.

Nam Tai Property Inc. (NTP) reported unaudited financial results for Q3 2021, highlighting a revenue increase to $5.8 million, up from $1.1 million in Q3 2020. The company secured a loan facility of $164 million from Bank of Guangzhou. Despite a net loss of $4.3 million, a decrease from $4.9 million in the previous year, operational challenges persist due to restrictive government measures affecting the property market causing decreased demand.

Key highlights include a 10% increase in occupancy at Nam Tai Inno Park and progress in construction projects.

Nam Tai Property Inc. (NTP) announced the dismissal of its appeal in the Eastern Caribbean Court against a previous judgment related to litigation filed by IsZo Capital LP and others. A hearing on October 6, 2021, allowed the Company to file applications by October 13, 2021, to appeal to the Privy Council or stay the judgment. A proposed special meeting of shareholders is set for November 30, 2021, which may impact current shareholder voting rights. The Company will provide further updates as necessary.