16 May 2017
JZ CAPITAL PARTNERS LIMITED
(the "Company")
(a closed-end collective investment scheme incorporated as a
non-cellular company with limited liability under the laws of
Guernsey with registered number 48761)
Results of Meeting
of CULS Holders, Separate General Meetings
and Extraordinary General Meeting
The Board of Directors of the Company is pleased to announce
that the resolutions proposed at the Meeting of CULS Holders, the
Separate General Meetings and the Extraordinary General Meeting
were duly passed without amendment by the required majorities.
Further details of the resolutions are set out in the Circular
and, in the case of the resolution proposed at the Meeting of CULS
Holders, the CULS Circular.
Accordingly, the Company's existing dividend policy has been
discontinued and the new strategy is adopted. Under the new
strategy, purchases by the Company of its Ordinary Shares will be
undertaken when opportunities in the market permit, and as the
Company’s cash resources allow. Naturally the Board will have
regard at the relevant time to the best interests of the Company in
determining the application of cash resources and where other
applications are required or seem appropriate, such as in other
investments or the repayment of debt, the cash will be applied
accordingly. The new strategy will be kept under review by the
Board, particularly with regard to the level of the discount to net
asset value of the Company's Ordinary Shares. When the discount no
longer justifies the continuation of the strategy the Board will
consider returning to the payment of dividends. The Company does
not intend to declare or pay a second interim dividend to Ordinary
Shareholders for the financial year ending 28 February 2017.
Meeting of CULS Holders
For information, the following proxy votes (which should be read
alongside the Notice of Meeting of CULS Holders) were received
prior to the Meeting of CULS Holders:
|
Votes for |
Percentage of votes
cast for |
Votes against |
Percentage of votes cast
against |
Votes withheld |
Resolution |
3,231,113 |
100% |
0 |
0% |
0 |
Note: A vote withheld is not a vote in law and has not been
counted in the votes for or against the resolution.
Separate General Meeting of Ordinary
Shareholders
For information, the following proxy votes (which should be read
alongside the Notice of Separate General Meeting of Ordinary
Shareholders) were received prior to the Separate General Meeting
of Ordinary Shareholders:
|
Votes for |
Percentage of votes
cast for |
Votes against |
Percentage of votes cast
against |
Votes withheld |
Resolution |
67,197,185 |
99.99% |
708 |
0.001% |
0 |
Note: A vote withheld is not a vote in law and has not been
counted in the votes for or against the resolution.
Separate General Meeting of ZDP
Shareholders
For information, the following proxy votes (which should be read
alongside the Notice of Separate General Meeting of ZDP
Shareholders) were received prior to the Separate General Meeting
of ZDP Shareholders:
|
Votes for |
Percentage of votes
cast for |
Votes against |
Percentage of votes cast
against |
Votes withheld |
Resolution |
6,904,874 |
100% |
0 |
0% |
0 |
Note: A vote withheld is not a vote in law and has not been
counted in the votes for or against the resolution.
Extraordinary General Meeting
For information, the following proxy votes (which should be read
alongside the Notice of Extraordinary General Meeting) were
received prior to the Extraordinary General Meeting:
|
Votes for |
Percentage of votes
cast for |
Votes against |
Percentage of votes cast
against |
Votes withheld |
Resolution 1 |
77,310,100 |
99.97% |
23,908 |
0.03% |
0 |
Resolution 2 |
70,916,251 |
99.97% |
23,908 |
0.03% |
0 |
Resolution 3 |
70,916,251 |
99.97% |
23,908 |
0.03% |
0 |
Resolution 4 |
31,813,601 |
99.92% |
23,908 |
0.08% |
39,102,650 |
Note: A vote withheld is not a vote in law and has not been
counted in the votes for or against the resolutions.
Copies of the resolutions are available on the National Storage
Mechanism at: www.morningstar.co.uk/uk/nsm.
Unless defined herein, capitalised terms used in this
announcement shall have the meaning attributed to them in the
Circular or the CULS Circular published by the Company on
20 April 2017, as applicable.
For further information:
William Simmonds
J.P. Morgan Cazenove |
+44 (0)20 7742 4000 |
Ed Berry / Kit
Dunford
FTI Consulting
David Macfarlane
JZ Capital Partners Limited |
+44 (0) 20 3727 1046 / 1143 |
David Zalaznick
Jordan/Zalaznick Advisers, Inc. |
+1 (212) 485 9410 |
Rebecca Booth / Teresa Le
Couteur-Tembo
Northern Trust International Fund Administration Services
(Guernsey) Limited |
+44 (0)1481 745189 |
About JZCP
JZCP is a London listed fund which invests in US and
European micro-cap companies and US real estate. Its objective is
to achieve an overall return comprised of a current yield and
capital appreciation. JZCP receives investment advice from
Jordan/Zalaznick Advisers, Inc. (“JZAI”) which is led by
David Zalaznick and Jay Jordan. They have worked together for 30
years and are supported by teams of investment professionals in
New York, Chicago, London and Madrid. JZAI’s experts work with the existing
management of micro-cap companies to help build better businesses,
create value and deliver strong returns for investors. JZCP also
invests in mezzanine loans, first and second lien investments and
other publicly traded securities. For more information please visit
www.jzcp.com.