JZ Capital Ptnrs Ltd Share Buybacks

 
TIDMJZCP TIDMJZCC TIDMJZCN 
 
JZ CAPITAL PARTNERS LIMITED (the "Company" or "JZCP") 
 
(a closed-end investment company incorporated with limited liability under the 
                laws of Guernsey with registered number 48761) 
 
                                SHARE BUYBACKS 
 
                                 27 JUNE 2019 
 
At the Annual General Meeting of the Company held on 27 June 2019, the 
shareholders of the Company approved the purchase by the Company of shares in 
the capital of the Company (the "On-Market Buy Backs"). The authorities 
authorised the Company to, amongst other things, make market acquisitions of 
the Company's shares up to a maximum number of, 12,091,959 ordinary shares and 
1,784,967 zero dividend redeemable preference shares representing approximately 
14.99 per cent of each class of those shares in issue as at 7 May 2019 (the 
"On-Market Buy Back Authority"). 
 
It is also noted that, in order for the Company to undertake share buybacks of 
ordinary shares, in addition to repurchasing shares through the above mentioned 
market acquisitions, the Company will need to repurchase ordinary shares 
through effecting a number of resultant off-market mandatory repurchases from 
certain of the Company's large US shareholders pursuant to and as required by 
its Articles of Incorporation. The process of the Company buying back ordinary 
shares in this way reflects the implementation of the CFC Buy Back Arrangement 
as further described in the Company's Circular to shareholders dated 20 April 
2017 (the "Off-Market Buy Backs"). As such, at the Annual General Meeting, the 
shareholders of the Company also approved the Company to make off-market 
acquisitions of ordinary shares in the capital of the Company pursuant to its 
Articles of Incorporation (the "Off-Market Buy Back Authority" and together 
with the On-Market Buy Back Authority, the "Buy Back Authorities"). The 
intention is for such Buy Back Authorities to be renewed annually by the 
Company at its Annual General Meetings as has been the case in previous years. 
 
Shareholders are also reminded that, at the Extraordinary General Meeting of 
the Company held after the conclusion of the Annual General Meeting on 27 June 
2019, the shareholders of the Company approved additional buy back authorities 
in order to return capital to ordinary shareholders by way of a tender offer 
(or a series of tender offers) and resultant off-market acquisitions of the 
Company's ordinary shares (the "Tender Offer Authorities") as further described 
in the Company's Circular dated 29 May 2019. It is now the intention of the 
Company to undertake acquisitions of its ordinary shares by way of a tender 
offer (or series of tender offers) pursuant to the Tender Offer Authorities 
however the Company may, in addition and where appropriate, make acquisitions 
of both its ordinary shares and zero dividend preference shares by way of share 
buy backs pursuant to the Buy Back Authorities. 
 
For the purpose of any On-Market Buy Backs forming part of the Buy Back 
Authorities, the Company has instructed J.P. Morgan Securities plc to act as 
its broker in respect of such transactions. With respect to any Off-Market Buy 
Backs resulting from such On-Market Buy Backs, on any relevant day, the Company 
will carry out any required off-market repurchases pursuant to and as required 
by the Company's Articles of Incorporation. The price at which ordinary shares 
are repurchased pursuant to the Off-Market Buy Backs will be equal to the 
volume weighted average price payable per ordinary share in respect of the 
ordinary shares agreed to be repurchased by J. P. Morgan Securities plc 
pursuant to the On-Market Buy Backs during the course of any relevant day. The 
Company will announce the results of any share buyback related to the Buy Back 
Authorities by no later than 7.30 a.m. on the business day following the 
calendar day on which such repurchases occurred. The details of any share 
buyback undertaken by way of tender offer and relying on the Tender Offer 
Authorities will be contained in a separate shareholder circular(s) that will 
be sent to shareholders at the time the Company decides to undertake buybacks 
in this way. 
 
Although the Company retains the power to do so, it is not obliged to carry out 
share buybacks of its shares, and as such, the Company may undertake buybacks 
when it so chooses including (as applicable) as and when opportunities in the 
market permit and as its cash resources allow at the time. 
 
For further information: 
 
William Simmonds                        +44 (0) 20 7742 4000 
J.P. Morgan Cazenove 
 
Ed Berry / Kit Dunford                  +44 (0) 20 3727 1046 / 1143 
FTI Consulting 
 
David Zalaznick                         +1 (212) 485 9410 
Jordan/Zalaznick Advisers, Inc. 
 
Sam Walden                              +44 (0) 1481 745385 
Northern Trust International Fund 
Administration Services (Guernsey) 
Limited 
 
About JZ Capital Partners 
 
JZ Capital Partners ("JZCP") is one of the oldest closed-end investment 
companies listed on the London Stock Exchange. It seeks to provide shareholders 
with a return by investing selectively in US and European microcap companies 
and US real estate. JZCP receives investment advice from Jordan/Zalaznick 
Advisers, Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They 
have worked together for more than 35 years and are supported by teams of 
investment professionals in New York, Chicago, London and Madrid. JZAI's 
experts work with the existing management of microcap companies to help build 
better businesses, create value and deliver strong returns for investors. For 
more information please visit www.jzcp.com. 
 
 
 
END
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