JZ Capital Ptnrs Ltd Postponement of half year results

 
TIDMJZCP TIDMJZCC TIDMJZCN 
 
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 
 
                       Postponement of half year results 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET 
ABUSE REGULATION (EU) NO. 596/2014. 
 
30 October 2019 
 
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, 
announces that it is postponing the publication of its half year results for 
the six-month period ended 31 August 2019, which was scheduled to take place on 
Thursday, 7 November 2019. 
 
In the course of examining certain real estate investment proposals, JZCP has 
consulted third party real estate brokers who indicated that, in their opinion, 
the value of certain of the Company's existing real estate investments could 
currently be lower than that indicated in the Company's most recent real estate 
valuations, which, based on independent third party appraisals, valued the 
Company's real estate portfolio at US$443 million as at 28 February 2019. The 
Company is therefore requesting that its third party appraiser accelerate the 
appraisals that would normally be undertaken as at the Company's financial year 
end at the end of February in order to confirm the current valuation of the 
Company's real estate assets.  The initial assessment is expected to take a 
number of weeks. The Company will make further announcements as the assessment 
progresses, including with respect to the date of publication of its half year 
results for the six-month period ended 31 August 2019. 
 
At this stage of the examination, the Company is unable to determine whether or 
not there has been a material diminution in the value of the Company's real 
estate portfolio and there can be no certainty as to the quantum of any such 
diminution at this stage in the process, but, based on the information 
currently at its disposal, the Company currently believes the aggregate 
reduction in valuation could be in the range of US$50 million to US$150 
million. 
 
For Further Information: 
 
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 JZCP 
 
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 micro-cap companies to help build 
better businesses, create value and deliver strong returns for investors. For 
more information please visit www.jzcp.com. 
 
 
 
END

(END) Dow Jones Newswires

October 30, 2019 13:32 ET (17:32 GMT)

Jz Capital Partners (LSE:JZCP)
Historical Stock Chart
From May 2024 to Jun 2024