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 European
Micro Cap Investments
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU)
NO. 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 ("MAR").
21 March
2022
JZ Capital Partners Limited ("JZCP" or the "Company") today
announces that it has come to the Board's attention that
allegations of fraudulent conduct potentially affecting JZCP's
European micro-cap investments have been made. The
allegations concern two individuals who were members of the
management team that manages JZCP's investments in European
micro-cap companies. A claim has been made in respect thereof in
the New York State Supreme Court.
The claimants are a fund in which JZCP has only an approximate 1%
interest carried at approximately US$0.75m and also a fund in which JZCP has no
interest. No allegations of fraudulent conduct were made against
employees of the Company's investment adviser, Jordan/Zalaznick Advisers, Inc.
Whilst an investigation into the allegations is ongoing and
therefore the information available to the Board at this time
remains limited, the Company has no reason to believe that the
alleged conduct will have a material adverse effect on the
Company's investments in its European micro-cap portfolio. The
Board will however make further announcements as and when
appropriate once further information concerning the investigation
and any potential impact on the Company becomes available.
The Company otherwise continues to remain confident of its
ability to deliver on its investment policy including repayment of
its debt obligations as they fall due subject as previously
announced to the Company achieving sufficient realisations of its
assets within the relevant timeframes.
Market Abuse Regulation
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.
The person responsible for arranging the release of this
announcement on behalf of the Company is David Macfarlane, Chairman of JZCP.
For further information:
Ed Berry / Kit
Dunford
FTI Consulting |
+44 (0)7703 330 199 /
+44 (0)7717 417 038 |
David Zalaznick
Jordan/Zalaznick Advisers, Inc. |
+1 (212) 485 9410 |
Sam Walden
Northern Trust International Fund Administration Services
(Guernsey) Limited |
+44 (0) 1481
745385 |
Important Notice
This announcement also 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.