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
FTI Consulting |
+44 (0)7717 417 038 / +44 (0)7703
330 199 |
David Zalaznick
Jordan/Zalaznick Advisers, Inc. |
+1 (212) 485 9410 |
Hannah Hayward
Northern Trust International Fund Administration Services
(Guernsey) Limited |
+44 (0) 1481
745417 |
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.