Nam Tai Property confirms Resu

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 to a reconstitution of the Board of Directors of the Company (the “Board”). At the extraordinary meeting, the holders of nearly 60% of the outstanding shares of the Company voted in favor of the resolutions proposed by IsZo Capital Management LP. More specifically, the following resolutions were adopted during the Extraordinary Meeting:

  1. The immediate dismissal of directors Dr. Wing Yan (William) Lo, Dr. Aiping Lyu, Dr. Lai Ling Tam and Professor Si Zong Wu from the board of directors;

  2. The immediate appointments of Michael Cricenti, Bo Hu, Leung Lin Cheong (Louis Leung), Jeffrey Tuder, Cindy Chen Delano and Paula J. Poskon to the board of directors.

The reconstituted board of directors, which still includes Peter R. Kellogg and Mark Waslen, met on December 1, 2021, during which Mr. Cricenti was appointed chairman, Huang Zhichang was appointed interim chief executive and Steven Parker. has been appointed interim CFO. .

Biographies of the new director

Michel cricenti is a Managing Member and Chief Investment Officer of Magis Capital Partners, a private investment firm that periodically invests in real estate investment trusts with underlying holdings in various sub-sectors of commercial real estate. Since 2017, Mr. Cricenti has also been a Senior Advisor at IsZo Capital Management, an investment firm, where he advises the firm on its investments in real estate securities and the REIT sector. His previous professional experience includes his work at Bluestem Asset Management and Harris Williams & Co.

Bo Hu is a partner and Managing Director of Edge Principal Advisors, a multi-strategy real estate investment platform that manages multiple investment vehicles that have invested in over $ 6 billion in real estate assets. Edge Principal Advisors is involved in real estate transactions across the capital structure and in a wide variety of property types. Mr. Hu has overseen the execution of some of the most complex real estate transactions and programmatic joint venture relationships at Edge Principal Advisors. His previous professional experience includes his work at Five Mile Capital Partners and Merrill Lynch & Co.

Leung Lin Cheong (Louis Leung) is the Managing Director of Capital BR International Ltd., a private investment firm. Throughout his long career, Mr. Leung has held several leadership positions focused on real estate development and asset management within large real estate funds. Prior to Capital BR International, Mr. Leung was Managing Director of the Retail Asset Management department of Ping An Real Estate Company Ltd. and Chairman of the Board of Directors of Shenzhen Ping An Commercial Property Investment Co., Ltd., a real estate investment company, both of which are subsidiaries of Ping An Insurance (Group) Company of China, Ltd., a conglomerate of Chinese holding company whose subsidiaries provide insurance, banking and financial services. Mr. Leung also served as Managing Director, Real Estate Development, at Van Shung Chong Holdings Limited (n / k / a Hong Kong Shanghai Alliance Holdings Limited), an equity and real estate fund management company in Shanghai, in China.

Jeffrey Tuder is the Managing Member of Tremson Capital Management, a private investment firm he founded to invest in undervalued publicly traded companies. Mr. Tuder has extensive experience investing in the private and public markets across all asset classes, as well as as a director of a number of public and private companies. Mr. Tuder is currently CEO of the Concord Acquisition Group of Special Purpose Acquisition Companies. Previously, Mr. Tuder held investment positions with Fortress Investment Group and JHL Capital Group, among others.

Cindy Chen Delano is a co-founder and partner of Invictus Global Management, LLC, an alternative asset management company based in Austin, TX. Ms. Delano has extensive legal expertise in complex cross-border transactions and investments. His previous professional experience includes holding various positions in firms such as Whitebox Advisors and AIG Investments, and working as a lawyer in several law firms. Ms. Delano was also an Assistant Professor at the University of Minnesota School of Law.

Paula J. Poskon is the founder and chairman of STOV Advisory Services, which provides professional advisory and advisory services to business executives and institutional investors in the areas of real estate, capital markets, investor relations, diversity and inclusion. From 2014 to 2015, Ms. Poskon served as Senior Vice President / Senior Real Estate Research Analyst at DA Davidson & Co., where she was responsible for co-leading the launch of its Real Estate Capital Markets platform. His professional experience also includes previous work at Robert W. Baird & Co. and a current seat on the board of directors of two public real estate investment trusts, Wheeler REIT (WHLR) and Power REIT (PW).

New biographies of leaders

Huang Zhichang has held positions of increasing responsibility, including Director, COO and Union President, at Nam Tai Investment (Shenzhen) Co., Ltd. from 1998 to June 2021. Mr. Huang has thirty years of experience in project management of technology parks, human resources, regulatory compliance and government affairs.

Steven parker, who was appointed Chief Financial Officer, has led Berkeley Research Group’s financial investigation and regulatory compliance practice in Greater China and the Asia-Pacific region since 2019. From 2017 to 2019, he was Managing Director of Duff & Phelps (China Limited) and from 2007 to 2017 Managing Director Asia-Pacific at Experis / Jefferson Wells (Hong Kong) Co., Ltd. In 2007 Mr. Parker was CFO of Ferrari Motorsports China (Ferrari Maserati Cars Int’l Trading) and from 2002 to 2007 he was CFO, Greater China and Asia-Pacific for McCormick (China) Co ., Ltd. Mr. Parker has over twenty-five years of experience in the region, specializing in forensic investigations, litigation assistance, risk management and regulatory compliance.

FORWARD-LOOKING STATEMENTS

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”, “anticipate”. “,” Intend “,” plan “,” research “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 expected 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 itself 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 we have not described, that 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 that may reflect the occurrence of unforeseen events. events.

ABOUT THE NAM TAI PROPERTY

Nam Tai Property Inc. is an owner-operator of commercial real estate projects across China. The Company is currently managing two industrial complex projects, one in Guangming, Shenzhen, and the other in Bao’an, Shenzhen. Learn more about the Company’s portfolio and strategic priorities by visiting www.NamTai.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211203005453/en/


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