Files Claim Alleging Greater Sail has Conspired with Terminated CEO Wang Jiabiao and Terminated NTI Supervisor Zhang Yu to Hinder a Transition of On-Shore Control
Shares Updates on Court Orders Handed Down on January 31, 2022, Including an Order Enjoining Greater Sail From Obstructing the New Board�s Efforts to Assume On-Shore Control
SHENZHEN, China–(BUSINESS WIRE)–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:
On January 31, 2022, the Court ordered the following:
Nam Tais Board will continue to provide updates pertaining to its litigation and efforts to hold Greater Sail, Kaisa Group, Mr. Wang Jiabiao and other unlawful actors accountable for their interference in the Companys affairs. Nam Tai is represented in its ongoing actions by Ogier, with Quinn Emanuel Urquhart & Sullivan LLP serving as special litigation counsel and Global Law Firm (also known as GLO) and JunHe LLP serving as local China legal counsel.
FORWARD-LOOKING STATEMENTS
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
Nam Tai Property Inc. is an owner-operator of commercial real estate projects across China. The Company currently maintains two industrial complex projects, with one in Guangming, Shenzhen and one in Bao’an, Shenzhen. Learn more about the Companys portfolio and strategic priorities by emailing our investor relations team.
Contacts
For Shareholders:
Longacre Square Partners
Greg Marose / Ashley Areopagita, 646-386-0091
gmarose@longacresquare.com / aareopagita@longacresquare.com
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