Articles from Nam Tai Property Inc.

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today announced that the Company closed on the refinancing of its Technology Center property (the “Tech Center”) with a construction loan (the “Loan”) from Shenzhen Rural Commercial Bank on March 17, 2025 (the “Closing Date”). The Company expects to restart construction on the high-potential and valuable Tech Center in the near term.

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai Property” or the “Company”) today announced that the Company closed a mortgage loan (the “Loan”) with Shenzhen Rural Commercial Bank (“SRCB”). The Loan totals RMB 110.0 million and matures in eight years. The blended all-in rate is approximately 4.4% per year (based on the Loan Prime Rate published by the Central Bank of the People’s Republic of China). The Loan is collateralized with the Company’s Inno Valley property, a 22-year-old, un-redeveloped industrial factory park located in Bao’an District, Shenzhen.

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai Property” or the “Company”) today announced that its reconstituted Board of Directors (the “Board”) and new management have lawfully obtained full control over the Company’s on-shore assets, including the corporate seals and business licenses of its subsidiaries (the “on-shore subsidiaries”) in the People’s Republic of China (the “PRC”) and completed the registration of the legal representative for each of its on-shore subsidiaries with the relevant Administrations for Market Regulation. Additionally, the Company has reached a global settlement with Greater Sail Ltd. (“GSL”), a wholly owned subsidiary of Kaisa Group Holdings Limited (“Kaisa”), to amicably resolve all outstanding disputes between the parties across Hong Kong, the British Virgin Islands and the PRC.

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today announced that its reconstituted Board of Directors (the “Board”) and new management team have lawfully obtained the corporate chops and business licenses for all of the Company’s subsidiaries in the People’s Republic of China (“PRC”). This was achieved with the support of Nam Tai’s independent legal counsels and advisors led by Jack Law of Hui Zhong Law Firm. The Company is now in the process of registering its Chief Executive Officer, Yu Chunhua, as the Legal Representative for its subsidiaries with the Administration for Market Regulation of the PRC.

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today announced that a Hong Kong arbitrator has dismissed all claims brought by Greater Sail Limited (“GSL”) against the Company for USD $146.9 million under a 2020 private investment in public equity (the “2020 PIPE”) transaction involving the Company and GSL. The arbitrator has also accepted counterclaims brought by Nam Tai against GSL. GSL is a wholly owned subsidiary of Kaisa Group Holdings Limited (“Kaisa”), whose long-standing associates have obstructed the reconstituted Board of Directors’ (the “Board”) efforts to gain on-shore control of Nam Tai’s subsidiaries in mainland China.

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today provided the following corporate updates:

Nam Tai Property Inc. (OTC Expert Market: NTPIF) (“Nam Tai” or the “Company”) today provided the following corporate updates:

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today announced that the Shenzhen Intermediate People's Court (the “Intermediate Court”) has upheld the jurisdiction of the Shenzhen Qianhai Cooperation Zone People’s Court (the “Qianhai Court”) to grant the Company’s subsidiary’s request to freeze the personal bank accounts and assets of Wang Jiabiao and Zhang Yu, who were terminated by the Company’s reconstituted Board of Directors (the “Board”) in the fourth quarter of 2021.

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today announced that the Shenzhen Qianhai Cooperation Zone People’s Court (the “Court”) has granted its subsidiary’s request to freeze the bank accounts and assets of Wang Jiabiao and Zhang Yu, who were terminated by the Company’s reconstituted Board of Directors (the “Board”) in the fourth quarter of 2021. This follows the Court’s recent order that prohibited Mr. Wang and Ms. Zhang from using the corporate chops and business licenses of Nam Tai Investment (Shenzhen) Co., Ltd. (“Nam Tai Investment”), a wholly-owned indirect subsidiary of the Company, during ongoing litigation. Mr. Wang and Ms. Zhang, who are long-standing affiliates of Kaisa Group Holdings Limited (collectively with its affiliates, “Kaisa”) and have spent the last several months purporting to represent Nam Tai Investment, are restricted from dissipating assets of Nam Tai Investment and entering into new corporate arrangements on behalf of Nam Tai Investment.

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today announced that the Shenzhen Qianhai Cooperation Zone People’s Court (the “Court”) has granted its subsidiary’s request that Wang Jiabiao and Zhang Yu – who were terminated by the Company’s reconstituted Board of Directors – be prohibited from using the corporate chops and business licenses of Nam Tai Investment (Shenzhen) Co., Ltd. (“Nam Tai Investment”), a wholly owned indirect subsidiary of the Company, during ongoing litigation. Mr. Wang and Ms. Zhang, who are long-standing affiliates of Kaisa Group Holdings Limited (“Kaisa”) and have spent the last seven months purporting to represent Nam Tai Investment, will be restricted from dissipating assets of Nam Tai Investment and entering into new corporate arrangements on behalf of Nam Tai Investment.

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today announced the immediate appointment of Zhou Chongqing to the Company’s Board of Directors (the “Board”). In addition, the Company announced that Jeffrey Tuder and Paula J. Poskon have resigned from their director positions, resulting in a reduction of the Board to eight members.

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today provided updates pertaining to legal proceedings initiated last week in the British Virgin Islands (“BVI”) Commercial Division of the Eastern Caribbean Supreme Court (the “Court”) against Greater Sail Limited (“Greater Sail”), a wholly-owned affiliate of Kaisa Group Holdings Limited (“Kaisa Group”) that is incorporated in the BVI:

The Board of Directors of Nam Tai Property Inc. (NYSE: NTP) today provided a series of corporate updates via the below open letter to shareholders.

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today provided a series of corporate updates, including that it has entered into a one-year shareholder rights plan (the “Rights Plan”). The Rights Plan, which is effective immediately and will expire no later than December 13, 2022, unless renewed, was unanimously approved by the recently reconstituted Board of Directors (the “Board”) to protect the best interests of the Company and its shareholders. One Right has been declared by the Board for each outstanding share.

Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”) today announced that the special meeting of shareholders (the “Special Meeting”) held on November 30, 2021, has resulted in a reconstitution of the Company’s Board of Directors (the “Board”). At the Special Meeting, holders of nearly 60% of the Company’s outstanding shares voted to approve the resolutions proposed by IsZo Capital Management LP. Specifically, the following resolutions were adopted at the Special Meeting: