Nam Tai Property Inc (fka NTP) (NTP)

[Enterprising Investor]

Nam Tai Property Inc. Share Repurchase by Way of a Cash Tender Offer (8/03/15)

SHENZHEN, China, Aug. 3, 2015 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) announced that its board of directors has approved and it is commencing a cash tender offer today to purchase up to fifteen million (15,000,000) of its issued and outstanding Common Stock, par value $0.01 per share (the "Shares") at a purchase price of $5.50, net per share. The tender offer will be subject to the terms and conditions described in the offer to purchase and the related materials that will be distributed to holders of the shares and filed with the Securities and Exchange Commission (the "SEC") today. The tender offer is expected to commence on August 3, 2015 and to expire on September 4, 2015, and will be conducted in accordance with SEC Rule 13e-4.

"Further to our previous tender offer launched in late April 2015, we believe that our current stock price has continued to be negatively impacted by unfavorable global stock market conditions and the unfamiliarity of investors with the real estate market in China. With our new tender offer announcement today, we reaffirm our confidence and optimism in the long term future of the Company and continue to execute on our strategy of returning capital to shareholders," said Mr. M. K. Koo, chairman of Nam Tai.

Neither Nam Tai, its board of directors nor the information agent nor any of their affiliates is making any recommendation to holders of the Shares as to whether to tender or refrain from tendering their Shares. This tender offer is offered to all of our shareholders, including our directors and executive officers, who may tender their shares if so desired. The information agent for the tender offer will be Georgeson Inc. and the depositary for the tender offer will be Computershare.

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell Nam Tai's shares. The solicitation of offers to buy Nam Tai's shares will only be made pursuant to the offer to purchase, to be issued in connection with the commencement of the tender offer (as may be amended or supplemented), the related letter of transmittal, and other related documents that Nam Tai intends to send to holders of its shares. The tender offer materials will contain important information that should be read carefully before any decision is made with respect to the tender offer. Those materials will be distributed by Nam Tai to the holders of its shares at no expense to them. In addition, all of the materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC's website at www.sec.gov and by contacting the information agent for the tender offer, Georgeson Inc. by telephone at: Toll-Free [phone].

http://www.prnewswire.com/news-releases/nam-tai-property-inc-share-repurchase-by-way-of-a-cash-tender-offer-300122335.html