NTP - NTP STOCK NEWS

Nam Tai Property released an investor presentation detailing its asset values and growth strategies. Independent valuations from Savills and JLL estimate the company's real estate assets at approximately RMB 5.7 billion ($880 million), translating to a net asset value of $18 per share. This valuation contrasts sharply with an unsubstantiated $40 per share claim from activist investor IsZo Capital. The presentation outlines significant achievements in 2020 and a strategic partnership with Kaisa, positioning Nam Tai for future growth in the Guangdong-Hong Kong-Macao Greater Bay Area.

Nam Tai Property Inc. (NTP) announced on April 7, 2021, its intention to appeal a March 3, 2021, ruling from the Eastern Caribbean Supreme Court, which voided a private placement intended to address liquidity challenges. The Company argues significant errors in the judgment, particularly regarding the liquidity crisis and the purpose of the share allocation. IsZo Capital LP's actions have led to ongoing liquidity issues, impacting operations and construction projects. Dr. Lai Ling Tam emphasized the commitment to shareholder value amidst these challenges.

IsZo Capital Management LP, owning 13% of Nam Tai Property Inc. (NTP), has called for a Special Meeting on April 26, 2021, to replace a majority of the Board of Directors. This move follows a ruling by the Eastern Caribbean Supreme Court that found current directors breached fiduciary duties, prompting a need for urgent governance change. IsZo proposes six independent candidates to enhance corporate governance and correct financial mismanagement, emphasizing a history of negative returns under Kaisa Group's influence. Shareholders are urged to vote using the GREEN Proxy Card for this initiative.

IsZo Capital Management LP, owning 12.1% of Nam Tai Property (NYSE: NTP), announced that the Eastern Caribbean Supreme Court has ordered a Special Meeting for shareholders on April 26, 2021, with a record date of March 15, 2021. IsZo seeks to reconstitute the Board of Directors, removing incumbents and installing six independent candidates. The court also ruled the $170 million private placement executed on October 5, 2020, was invalid, indicating that incumbent directors breached their duties by facilitating Kaisa's control over the company.

Nam Tai Property Inc. (NTP) announced on March 3, 2021, that the Eastern Caribbean Supreme Court ruled the company's October 2020 private placement void, necessitating a special shareholder meeting for director elections. The company expressed surprise and disappointment over the ruling and plans to appeal the decision while fulfilling its fiduciary duties. Nam Tai aims to establish itself as a leading technology park developer in China's Greater Bay Area, continuing to pursue its long-term growth strategy despite the legal setback.

IsZo Capital Management LP, owning about 11% of Nam Tai Property Inc. (NYSE: NTP), has won a lawsuit in the Eastern Caribbean Supreme Court. The court voided a $170 million private placement that increased Kaisa Group Holdings' ownership from 23.9% to 43.9% and also affected West Ridge Investment Company. The ruling found that Nam Tai's Board acted improperly in conducting the transaction, breaching fiduciary duties to grant Kaisa de facto control. The court has ordered Nam Tai to hold a Special Meeting to address shareholder concerns promptly.

IsZo Capital Management LP, holding approximately 11% of Nam Tai Property's shares (NYSE:NTP), has provided an update on its lawsuit against Nam Tai and affiliated companies, including Kaisa Group and West Ridge. The lawsuit, filed in October 2020, challenges a $170 million private placement that diluted IsZo's ownership by increasing Kaisa-Greater Sail's stake from 23.9% to 43.9%. The trial concluded on February 24, 2021, with a ruling expected in early March. IsZo plans to update shareholders post-ruling and encourages them to visit www.FixNTP.com for more information.

Nam Tai Property Inc. (NTP) reported impressive financial results for Q4 2020, with revenue soaring to $68.6 million, an increase of 8,076% year-on-year. The net income from operations reached $34.9 million, up from a $4.6 million loss in Q4 2019. Consolidated net income was $28.7 million, reversing a loss of $2.1 million the previous year. As of December 31, 2020, the company's cash and equivalents rose to $211.1 million. Real estate properties under development grew to $312.1 million, reflecting a 24% year-on-year increase. The occupancy rate of Shenzhen projects was 48%.

IsZo Capital Management, holding approximately 11% of Nam Tai Property's shares, has filed a lawsuit against the Company and Kaisa Group after a controversial $170 million private placement. This legal action aims to contest the dilution and restore shareholder rights, including a Special Meeting to elect a new Board. The Eastern Caribbean Supreme Court has granted an injunction and set a trial date for January 29, 2021. IsZo believes the placement undermines corporate governance and aims to invalidate it, reinforcing their commitment to enhancing shareholder value at Nam Tai.