JZ Capital Ptnrs Ltd Disposal of Interest in US Micro-cap Portfolio Company
January 24 2023 - 10:42AM
UK Regulatory
TIDMJZCP
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
Closing of Disposal of Interest in
US Micro-cap Portfolio Company
24 January 2023
Further to the Company's announcement on 19 December 2022, JZ Capital Partners
Limited, the London listed fund that has investments in US and European
microcap companies and US real estate, is pleased to provide an update in
relation to the disposal by Deflecto Holdings, LLC ("Deflecto Holdings"), one
of the Company's micro-cap co-investments, of its interest in one of its
portfolio companies (the "Disposal").
In the aforementioned announcement, the Company noted that Deflecto Holdings
had executed an agreement to effect the Disposal, with completion of the
Disposal being subject to the satisfaction of certain conditions, including the
federal premerger notification program established by the Hart-Scott-Rodino
Act.
The Company is now pleased to announce that the conditions to the Disposal have
been satisfied and that the Disposal has been completed. As a result, the
Company has received initial proceeds of approximately US$54.3 million, with up
to a further approximately US$1.3 million to be payable post-closing pursuant
to a standard escrow arrangement that is subject to customary final closing
adjustments.
______________________________________________________________________________________
For further information:
Kit Dunford / Ed Berry +44 (0)7717 417 038 / +44 (0)7703
FTI Consulting 330 199
David Zalaznick +1 (212) 485 9410
Jordan/Zalaznick Advisers, Inc.
Hannah Hayward +44 (0) 1481 745417
Northern Trust International Fund
Administration Services (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, Jordan/Zalaznick Advisers, Inc. 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
January 24, 2023 10:42 ET (15:42 GMT)
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