JZ Capital Partners Ltd - Company Update
PR Newswire
London, April 22
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 29thFebruary 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 |
