JZ Capital Ptnrs Ltd JZCP completes the sale of its interest in Salter Labs
June 21 2021 - 2:00AM
UK Regulatory
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
JZCP completes the sale of its interest in Salter Labs
21 June 2021
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, refers
to the announcement on 19 May 2021 of its annual results for the year ended 28
February 2021 in which the Company announced that conditional agreement had
been reached in relation to the sale of its interest in one of its portfolio
companies.
JZCP is now pleased to announce that the sale which relates to its portfolio
company, Salter Labs has achieved completion with all conditions to closing
being satisfied, resulting in the Company having received net proceeds of
approximately US$41 million. JZCP's interest in Salter Labs is currently valued
by the Company at approximately US$37.64 million. Further proceeds of
approximately US$750,000 have also been placed in escrow some or all of which,
depending on the outcome of certain closing adjustments, may also be received
by the Company in due course.
The proceeds received by JZCP from the sale are intended to be used by it to
repay an amount of approximately US$33 million to its senior lenders under the
Company's existing senior facility agreement, with the balance of the proceeds
to be applied in accordance with the Company's investment policy and for its
general corporate purposes. Following the repayment to the senior lenders, the
remaining balance outstanding under the senior facility will be approximately
US$35 million.
For further information:
Ed Berry +44 (0) 20 3727
FTI Consulting 1046
David Zalaznick +1 (212) 485
Jordan/Zalaznick Advisers, Inc. 9410
Sam Walden +44 (0)1481
Northern Trust International Fund Administration Services 745385
(Guernsey) Limited
Important Notice
This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "anticipates", "expects", "intends", "may", "will" or
"should" or, in each case, their negative or other variations or comparable
terminology. These forward-looking statements relate to matters that are not
historical facts. By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on circumstances that
may or may not occur in the future. Forward-looking statements are not
guarantees of future performance. The Company's actual investment performance,
results of operations, financial condition, liquidity, policies and the
development of its strategies may differ materially from the impression created
by the forward-looking statements contained in this announcement. In addition,
even if the investment performance, result of operations, financial condition,
liquidity and policies of the Company and development of its strategies, are
consistent with the forward-looking statements contained in this announcement,
those results or developments may not be indicative of results or developments
in subsequent periods. These forward-looking statements speak only as at the
date of this announcement. Subject to their legal and regulatory obligations,
each of the Company, the Investment Adviser and their respective affiliates
expressly disclaims any obligations to update, review or revise any
forward-looking statement contained herein whether to reflect any change in
expectations with regard thereto or any change in events, conditions or
circumstances on which any statement is based or as a result of new
information, future developments or otherwise.
END
(END) Dow Jones Newswires
June 21, 2021 02:00 ET (06:00 GMT)
Jz Capital Partners (LSE:JZCP)
Historical Stock Chart
From Jul 2024 to Aug 2024
Jz Capital Partners (LSE:JZCP)
Historical Stock Chart
From Aug 2023 to Aug 2024