NYSE to Suspend Trading in Nam Tai Property Inc. (NTP) and Commence Delisting Proceedings
The New York Stock Exchange ("NYSE") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common shares of Nam Tai Property Inc. (the "Company") ? ticker symbol NTP ? from the NYSE. Trading in the Company's common shares will be suspended immediately.
NYSE Regulation halted trading in the Company's common shares on May 23, 2022 and has now determined to commence delisting proceedings with respect to the Company pursuant to Section 802.01E of the NYSE Listed Company Manual. NYSE Regulation reached this delisting decision because the Company has not filed with the Securities and Exchange Commission (the "SEC") its annual report on Form 20-F for the year ended December 31, 2021. The Company failed to cure this filing delinquency within the initial six-month cure period provided under Section 802.01E and NYSE Regulation has determined that an additional discretionary cure period of up to six months as provided by that rule is not appropriate in light of the Company's specific circumstances.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the SEC to delist the common shares upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
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