IsZo Capital Provides Important Update Regarding Special Meeting of Nam Tai Shareholders

NEW YORK--(BUSINESS WIRE)--IsZo Capital Management LP (together with its affiliates, “IsZo” or “we”), which beneficially owns approximately 12.1% of the outstanding shares of Nam Tai Property Inc. (NYSE: NTP) (“Nam Tai” or the “Company”), today announced that the Eastern Caribbean Supreme Court (the “Court”) has ordered the Company to convene a meeting of shareholders (the “Special Meeting”) on April 26, 2021 and fix a record date of March 15, 2021. On September 11, 2020, IsZo delivered to Nam Tai verified requests to convene a Special Meeting from holders of approximately 40% of the Company’s outstanding shares – a number far in excess of the 30% requirement (the “Requisition”). IsZo has been seeking to convene the Special Meeting for the purpose of providing shareholders an opportunity to reconstitute Nam Tai’s Board of Directors (the “Board”) by removing a majority of the incumbents and installing six highly-qualified and independent individuals: Michael Cricenti, Cindy Chen Delano, Bo Hu, Louis Leung, Paula J. Poskon and Jeffrey Tuder. IsZo believes that the right leadership can help unlock the true value of Nam Tai’s current assets, which the Company’s own valuation estimates have suggested is up to $40 per share.