Nam Tai issues statement in appeal against judgment dated March 3, 2021
Shenzhen, china and TORTOLA, British Virgin Islands, October 7, 2021 / PRNewswire / – Nam Tai Property Inc. (“Nam Tai“or the”Society“) (NYSE symbol: NTP) provides an update on the rejection of his appeal before the Eastern Caribbean Court of Appeal of the British Virgin Islands (the “Court of Appeal“) against the judgment of the Eastern Caribbean Supreme Court before the High Court of Justice of the British Virgin Islands (the “Supreme Court“) to March 3, 2021 with respect to the litigation filed by IsZo Capital LP against the Company with Greater Sail Limited and West Ridge Investment Company Limited on October 4, 2021 (the “Dismissal“).
A back-to-back hearing regarding the termination took place on October 6, 2021 which the Court of Appeal ordered, among other things, that the Company may file applications to the Court of Appeal within 7 days of the investigation, that is to say October 13, 2021, for: (i) conditional leave to appeal to the Privy Council; (ii) a suspension pending any appeal to the Privy Council; and or ; (iii) an amendment to the order of the Court of Appeal dated October 4, 2021. The hearing of the above-mentioned motions is scheduled for November 8, 2021 (the “November 8 Audience“).
Among the requests that the Company intends to present, it is prepared to invite the Court of Appeal to modify its order of October 4, 2021 that the Company calls a special meeting of shareholders regarding the election and / or dismissal of directors on November 30, 2021 (the “Special meeting proposed“) in accordance with the instructions set out in Schedule 1 of the Order of the High Court of March 3, 2021 (“Annex 1“). Annex 1 provides, inter alia, that members registered with 4 p.m. Eastern Time to March 15, 2021 will have the right to vote at the proposed special meeting. Unless the Company succeeds in changing the order of the Court of Appeal in the November 8 At the hearing, it is expected that some of its current shareholders will not be eligible to vote and will be affected by the outcome of the proposed special meeting. The Company will provide updates to its shareholders from time to time, as appropriate.
FORWARD-LOOKING STATEMENT AND FACTORS THAT COULD LEAD TO A DROP IN THE PRICE OF OUR SHARES
Certain statements included in this announcement, other than statements of historical fact, are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “could”, “could”, “could”, “could”, “continue”, “estimate”, “expect”, “expect” “,” intend “,” plan “,” search “or” schedule “. 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 regarding future events. There are several factors, many of which are beyond our control, that could cause results to differ materially from our expectations. These risk factors are described in our Annual Report on Form 20-F and in our ongoing reports filed on Form 6-K from time to time and are incorporated herein by reference. Any of these factors could, by themselves or in conjunction 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 which have not been described by us, which could cause our results to differ from our expectations. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future results, activity levels, performance or achievements. You should not rely on forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date of this announcement; as such, they should not be unduly relied on as circumstances change. Except as required by law, we are not obligated, and we assume no obligation, to publicly release any revision of these forward-looking statements that may reflect events or circumstances occurring after the date of this announcement or those which may reflect the occurrence of unforeseen events. events.
ABOUT THE NAM TAI INC. PROPERTY
We are a real estate developer and operator, primarily doing 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, including the three plots in Shenzhen will be developed in Nam Tai Inno Park, Nam Tai Technology Center and Nam Tai Inno Valley. We plan to build these technology parks in iconic parks in the region and provide high quality industrial offices, industrial service spaces and tenant support dorms. Based on the experience of developing and operating technology parks and an industrial relations network accumulated over the past 40 years, we have also exported the operating model of technology parks to other industrial properties . Through a light asset model, we have leased industrial properties for repositioning and business invitation. We will also develop the commercial and residential real estate activity by China as an ancillary development strategy for the Company. As the growth prospects of China maintain, we will seize development opportunities in the Grande Baie region and other first and second tier cities in China, and continue to strengthen and develop the business of industrial real estate, commercial and residential properties. Nam Tai Property Inc. is a company registered in 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.
SOURCE Owned by Nam Tai Inc.