JZ CAPITAL PARTNERS LIMITED (the
"Company" or “JZCP”)
(a closed-ended investment company incorporated with limited
liability under the laws of Guernsey with registered number
48761)
LEI 549300TZCK08Q16HHU44
Clarification regarding the Company’s
30th November 2020 Net Asset Value
(“NAV”) and the completed Secondary Sale
The unaudited Net Asset Value per Ordinary Share of the Company
as at the close of business on 30th November 2020 was as follows:
Company Name |
Date |
NAV per Ordinary
Share |
JZ Capital Partners Limited |
30th November 2020 |
US$ 4.36 |
JZCP’s NAV at 30 November 2020 is
$4.36 per share ($4.51 at 31 October
2020), the decrease in NAV per share of (15) cents per share is due to net investment
losses of (8) cents, expenses and
finance costs of (4) cents, net fx
losses of (1) cent and change in the
fair value of the Company's CULS of (3)
cents offset by accrued income of 1
cent.
In December 2020, the Company
completed the sale of its interests in certain US micro-cap
portfolio companies (the "Secondary Sale”). The Secondary Sale was
structured as a sale and contribution to a newly formed fund, JZHL
Secondary Fund LP. The Company received consideration of: (i) Cash
Consideration, being $87.7 million
(after fees and expenses); and (ii) a special limited partner
interest in the newly formed fund which will initially be valued at
approximately $40.0 million. Adding
this figure to the cash consideration received would indicate a
write down to the Company’s net asset value of approximately
$40.0 million (52 cents). This write down is not reflected in
the 30 November NAV.
Enquiries:
Company website:
www.jzcp.com
Northern Trust International Fund Administration Services
(Guernsey) Limited
Email: jzcp@ntrs.com