Kahn Brothers Group Announces Intent to Vote on the GREEN Proxy Card at Nam Tai’s Special Meeting
March 31 2021 - 8:30AM
Kahn Brothers Group (collectively with its affiliated funds, “Kahn
Brothers” or “we”) today announced that it intends to vote 100% of
its over 1 million shares of Nam Tai Property Inc. (NYSE: NTP)
(“Nam Tai” or the “Company”) on the
GREEN
Proxy Card in support of IsZo Capital Management
LP’s (“IsZo”) six director candidates.
Andrew Kahn, director at Kahn Brothers,
stated:
“As a long-term shareholder who has been
invested in Nam Tai for over a decade, we have always been very
supportive of the Company’s leadership. Unfortunately, once Kaisa’s
affiliates took control of the management team and boardroom,
governance standards quickly diminished along with the value of our
investment. These issues came to a head this past fall when Nam
Tai’s leadership tried to prevent shareholders from holding a
Special Meeting by executing a $170 million private placement. For
these reasons we intend to vote all of our shares on the
GREEN Proxy Card in support of
IsZo’s slate of director candidates, who we believe can
significantly improve corporate governance to help unlock value for
Nam Tai shareholders.”
***
About Kahn Brothers GroupKahn Brothers Group is
an investment firm serving institutional and high-net-worth
clients. The firm provides investment management through its
registered investment adviser, Kahn Brothers Advisors LLC, and
brokerage services through Kahn Brothers LLC, Member New York Stock
Exchange.
DISCLAIMER This press release
is not a proxy statement or a solicitation of proxies from the
holders of common shares of Nam Tai Property Inc. and does not
constitute an offer of any securities.
Contact
Kahn Brothers Groupinquiry@kahnbrothers.com
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