NTP - Nam Tai Property: NYSE Trading Suspension Adds Insult To Injury For Equityholders

• Discussing recent events at troubled Shenzhen-based real estate developer. Hong Kong-based Oasis Management acquired the majority of the former Kaisa Group stake from Deutsche Bank.
• The New York Stock Exchange halted trading of the company's shares indefinitely due to regulatory concerns about the company’s lack of direct control over its chops.
• Participants in the $170 million October 2020 capital raise initiated court proceedings to demand repayment but the vast majority of the proceeds remain entangled in a Greensill-linked supply chain fund.
• Former CEO Wang Jiabiao has filed a claim challenging the resolutions removing him from positions at the company and its onshore subsidiaries, thus further obstructing the new board's attempt to gain control of Nam Tai.
• Given the complex issues involved here, it is difficult to envision a near-term, amicable solution, so investors better prepare for protracted litigation and the NYSE trading halt not being lifted anytime soon.

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