SHENZHEN, China, and TORTOLA,
British Virgin Islands,
Nov. 11, 2021 /PRNewswire/ -- Nam Tai Property Inc.
("Nam Tai" or the "Company") (NYSE
Symbol: NTP) is to provide an update regarding the hearing held on
November 8, 2021 in relation to the
three applications filed on October 18,
2021, subsequent to the judgment handed down on October 4, 2021 by the Eastern Caribbean Court of Appeal in the
British Virgin Islands (the "Court of Appeal"), namely the
applications for: (i) conditional leave to appeal to the Judicial
Committee of the Privy Council of the United Kingdom (the "Privy Council") (the
"Application for Conditional Leave to Appeal"); (ii) a stay of
execution to stay a special meeting of shareholders of the Company
which the Court of Appeal had ordered the Company to convene and
hold at 9:00 a.m. Eastern Time on
November 30, 2021 (the "Special
Meeting") (the "Application for a Stay"); and (iii) a variation of
the order of the Court of Appeal dated October 4, 2021 which ordered that only holders
of the Company's common shares of record at close of business on
March 15, 2021 (Eastern Time) (the
"Record Date") would be entitled to vote at the Special Meeting
(the "Application for Variation of the Order") (collectively, the
"Three Applications").
The Three Applications were heard by the Court of Appeal on
November 8, 2021. On November 10, 2021, the Court of Appeal delivered
its decision whereby: (i) the Application for Conditional Leave to
Appeal was granted and the Company was directed to comply with
the conditions imposed by the Court of Appeal in allowing the
Application for Conditional Leave to Appeal within 90 days
from November 8, 2021 and (ii) the
Applications for a Stay and for Variation of the Order were both
declined.
In respect of the Special Meeting, if you are the Company's
shareholder as of the Record Date and wish to change your vote, you
may: (i) cast a new vote following the instructions on the proxy
card to vote by telephone at +1 800 690 6903 or via the internet at
www.proxyvote.com up until 11:59 p.m.
Eastern Time on November 29,
2021; (ii) cast a new vote by mailing a new proxy card with
a later date; or (iii) attend the Special Meeting to be held
virtually at www.virtualshareholdermeeting.com/NTP2021SM on
November 30, 2021, at 9:00 a.m. Eastern Time and follow the
instructions to vote during the Special Meeting. If you are a
beneficial owner of the Company's common shares, you can revoke any
prior voting instructions by contacting the bank, broker, or other
nominee that holds your shares or by obtaining a legal proxy from
your bank, broker, or other nominee and voting at the Special
Meeting. If you have any questions or need assistance in casting
your vote, you may contact Innisfree M&A Incorporated, the firm
assisting the Company with this proxy solicitation (the Company's
shareholders may call toll free at +1 877 825 8777, banks and
brokers may call collect at +1 212 750-5833).
The Company will keep its shareholders informed from time to
time when appropriate.
FORWARD-LOOKING STATEMENT AND FACTORS THAT COULD CAUSE OUR
SHARE PRICE TO DECLINE
Certain statements included in this announcement, 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
announcement 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 expect to 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
Media and Investor Relations Department
Nam Tai Property Inc.
E-mail: ir@namtai.com.cn
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SOURCE Nam Tai Property Inc.