Filing Details

The Reporting Persons named in Item 2 below are hereby jointly filing this Schedule 13D because due to certain relationships among the Reporting Persons, such Reporting Persons may be deemed to beneficially own the same securities named in Item 5 below by one of the Reporting Persons.  In accordance with Rule 13d-1(k)(1)(iii) promulgated pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Reporting Persons named in Item 2 below have executed a written agreement relating to the joint filing of this Schedule 13D, a copy of which is attached hereto as Exhibit 1.

The securities covered by this Schedule 13D are common shares, par value $0.01 per share (the “Common Stock”), of Nam Tai Property Inc., a British Virgin Islands corporation (the “Issuer”).  The Issuer’s address is Nam Tai Estate, No. 3 Namtai Road, Gushu Community, Xixiang Township, Baoan District, Shenzhen City, Guangdong Province, People’s Republic of China.

(a)            This statement is being filed on behalf of IsZo Capital LP (the “Fund”), IsZo Capital GP LLC (“IsZo GP”), IsZo Capital Management LP (“ICM”), and Brian L. Sheehy (collectively, the “Reporting Persons”).  IsZo GP is the general partner of the Fund.  ICM is the investment manager of the Fund.  Mr. Sheehy is the managing member of IsZo GP and the President of the general partner of ICM.  IsZo GP, ICM and Mr. Sheehy may each be deemed to have voting and dispositive power with respect to the shares of Common Stock (as defined below) held by the Fund.

(b)            Each of the Reporting Persons has a principal business address at 590 Madison Avenue, 21^st Floor, New York, New York 10022.

(c)            Each of the Reporting Persons are primarily engaged in the business of investing in securities.

(d)-(e)            During the last five years, the Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding is or was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)            Mr. Sheehy is a citizen of the United States.  IsZo GP is a limited liability company formed under the laws of the State of Delaware.  Each of the Fund and ICM is a limited partnership formed under the laws of the State of Delaware.

The source of funding for the purchase of the Common Stock was the general working capital of the Fund.

The Reporting Persons believe the Issuer is significantly undervalued and intends to take action to increase shareholder value.  Such actions include the removal of board members of the Issuer other than two members the Reporting Persons deem independent and the election of independent directors to such vacancies.  The Reporting Persons also intend to advocate a strategic review of the Issuer’s assets, including potential divestitures and outright sale of the Issuer, and develop a capital allocation strategy that maximizes the long-term value for all shareholders.  The Reporting Persons also believe that the Issuer can improve the operating income of the Issuer’s performing assets in the short and long-term through a combination of cost reduction, strategic review of related-party agreements, and appropriate limits on debt financing and future capital expenditures.

The Reporting Persons may, from time to time and at any time, acquire more Common Stock in the open market or otherwise, and reserve the right to dispose of Common Stock in the open market or otherwise, from time to time and at any time.

(a) – (b)

* Based on 38,935,000 shares of Common Stock outstanding as of March 31, 2020 as reported in the Issuer’s Form 6-K filed with the Securities and Exchange Commission on April 27, 2020.

(c)            Except for the transactions described in Items 3, 4, or 5 of this Schedule 13D, during the last sixty days there were no transactions with respect to the Common Stock effected by the Reporting Persons.

(d)            Except as set forth in this Item 5, no person other than each respective record owner of securities referred to herein is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities discussed herein.

(e)            Not applicable.

Except as described above, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) including, but not limited to, transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, among the Reporting Persons and any other person, with respect to any securities of the Issuer, including any securities pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: May 27, 2020