JZ Capital Ptnrs Ltd Company Update
22 April 2020 - 11:31PM
UK Regulatory
TIDMJZCP TIDMJZCN TIDMJZCC
JZ CAPITAL PARTNERS LIMITED
(a closed-end collective investment scheme incorporated with limited liability
under the laws of Guernsey with registered number 48761)
LEI: 549300TZCK08Q16HHU44
Company Update
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014.
22 April 2020
The Board of JZ Capital Partners Limited ("JZCP" or the "Company"), the London
listed fund that invests in US and European micro-cap companies and US real
estate, today announces a proposed change to the Company's investment policy.
Under the proposals, the Company will make no further investments except in
respect of which it has existing obligations or to the extent that investment
is required to support existing investments. The intention is to realise the
maximum value of its investments and, after repayment of all debt, to return
capital to shareholders.
Whilst the Investment Managers have been working assiduously in difficult
circumstances to stabilise the Company's investments, the Board of JZCP
recognises that, as a result of the disappointing and significant losses in
value of its real estate portfolio and poor performance, and having reviewed
all available options, there has to be a change in investment policy.
This represents a change of emphasis from what was announced in the interim
statement, but the Board is confident that this proposed new policy would now
receive strong shareholder support and a resolution to that effect will be put
to shareholders as soon as possible.
Additionally, in light of the uncertainties created by the Covid 19 crisis, the
announcement of the Company's financial results for its year ended 29th
February 2020 originally scheduled for mid-May, will be delayed until mid-June.
For further information:
Ed Berry / Kit Dunford +44 (0) 20 3727 1046
FTI Consulting / 1143
David Zalaznick +1 (212) 485 9410
Jordan/Zalaznick Advisers, Inc.
Sam Walden +44 (0) 1481 745385
Northern Trust International Fund Administration Services
(Guernsey) Limited
END
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