Interim Management Statement
August 21 2008 - 12:19PM
UK Regulatory
RNS Number : 8482B
JZ Capital Partners Limited
21 August 2008
JZ CAPITAL PARTNERS LIMITED
(Registration No. 48761)
Registered Office:
2ND FLOOR, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,
GUERNSEY, GY1 3NQ, CHANNEL ISLANDS.
___________________________
TELEPHONE: + 44 1481 720321
FACSIMILE: + 44 1481 716117
E-MAIL: JZCP@bfmgl.gg
For immediate release - 21 August 2008
Interim Management Statement
As at 1 July 2008
Director's Review as at 1 July, 2008
On 1 July 2008 JZ Capital Partners Limited ("JZCP"), a Guernsey investment company, succeeded to the business and investments ("the
fund"), under the management of JZAI, of JZ Equity Partners plc ("JZEP") in accordance with the reconstruction proposals circulated to
shareholders on 12 May 2008.
Net Asset value ("NAV")
The opening Net Asset Value of JZCP on 1 July 2008 amounted to $353.4 million ($3.62 per share), $361.1 million ($3.70 per share) at 31
March of JZEP. At 1 July 2008 and during the three months prior thereto the principal factor affecting the NAV of the fund was the payment
of the special dividends paid by JZEP on 20 June 2008 totalling �10.7 million (approximately $21.3 million ($0.22 per share).
Investments and realisations
In the period of three months prior to 1 July 2008 JZCP's fund, under its predecessor, JZEP, made follow-on investments of $2.5 million
in Horsburgh & Scott to fund the development of its gear manufacturing business to take advantage of opportunities in the wind turbine
sector and of $2.45 million in Healthcare Products to provide additional working capital for its reconstruction. Also during that period
repayments in full of some $3.5 million of investment in Bank Debt were received.
David Macfarlane
Chairman
Note: Investments are valued in accordance with JZCP's policies. Unlisted investments are valued twice yearly as at 31 March and 30
September. The board's policy in its interim management statements is to attribute to its unlisted investments held at the relevant quarter
end, 1 July 2008 in this case, the values attributed to them, in this case by the directors of JZEP, at the last preceding valuation date,
31 March, unless significant events require otherwise.
Shareholders are advised that this statement is unaudited.
Dated: July/August 2008
This information is provided by RNS
The company news service from the London Stock Exchange
END
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