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
FTI Consulting |
+44 (0) 20 3727 1046 / 1143 |
David Zalaznick
Jordan/Zalaznick Advisers, Inc. |
+1 (212) 485 9410 |
Sam Walden
Northern Trust International Fund Administration Services
(Guernsey) Limited |
+44 (0) 1481 745385 |