JZCP Jz Capital Partners Limited

 
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)

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