Nam Tai Property Inc. Announces Results of its Cash Tender Offer (9/07/15)
SHENZHEN, China, Sept. 7, 2015 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) announced today the results of its previously announced cash tender offer to purchase 15,000,000 of its Common Stock, par value $0.01 per share (the "Shares") at a purchase price of $5.50 per Share, which expired at 5:00 P.M., Eastern Daylight Time, on Friday, September 4, 2015.
Based on the count by Computershare Trust Company, N.A., the Depositary for the tender offer, an aggregate of 3,523,574 Shares were properly tendered and not withdrawn, including 68,772 Shares tendered by Notice of Guaranteed Delivery. Accordingly, pursuant to the terms of the tender offer and applicable securities laws, the Company has accepted for purchase up to 3,523,574 Shares at a purchase price of $5.50 per Share subject to the 68,772 Shares tendered by Notice of Guaranteed Delivery be covered/presented for valid tender. The aggregate purchase price that the Company will pay for the Shares will be up to $19,379,657, excluding other fees and expenses relating to the tender offer.
The Company has instructed the Depositary for the tender offer to promptly make payment on its behalf for the Shares validly tendered and accepted for purchase. Immediately following its purchase of the tendered Shares, the Company expects to have 36,094,748 Shares issued and outstanding.
If you have any questions regarding the tender offer, please contact Georgeson Inc., the Information Agent for the tender offer, at (888) 666-2580 (toll-free).
ABOUT NAM TAI PROPERTY INC.
We are a property development and management company located in Shenzhen, China. Prior to becoming a property development and management company, we were an electronic manufacturing service company. In April 2014, we ceased our LCM manufacturing business and turned our focus to re-developing two parcels of land in Gushu and Guangming, Shenzhen, China, by converting these two parcels of land that formally housed our manufacturing facilities into high-end commercial complexes. We believe our principal income in the future will be derived from rental income from our commercial complexes.
Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP").
Please refer to the Nam Tai website (www.namtai.com) or the SEC website (www.sec.gov) for Nam Tai press releases and financial statements.
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