 Railroad Ranch Capital Management LP RRCM, via funds we control, is currently a shareholder of Nam Tai Property Inc. NYSE: NTP Nam Tai or the Company, owning approximately 4.5 via shares and derivatives. RRCM is releasing an open letter to NTPs shareholders regarding concerns over what appears to be the practical control of the Company that has been affected by minority shareholder Kaisa Group Holdings Ltd. HKG: 1638 without compensating shareholders with a control premium. The full text of the letter can be accessed at and an excerpt is included below: 