Final Results

RNS Number : 1612F

JZ Capital Partners Ltd

21 May 2013

 



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)

21 May 2013

ANNUAL RESULTS FOR THE 12 MONTHS ENDING 28 FEBRUARY 2013

~ Robust performance drives strong shareholder returns ~

21 May 2013

JZ Capital Partners (JZCP), the London listed private equity fund which invests in high-quality US, European and Latin America micro cap companies, announces its preliminary results for the twelve month period ended 28 February 2013.

Results Highlights

·      A record 43% Total Shareholder Return

·      6% NAV Total Return including:

o  A record distribution of 29 cents per share (FYE 28/2/12: 25 cents per share)

o  NAV of US$630 million (FYE 28/2/12: US$615 million)

o  NAV per share of US$9.69 (FYE 28/2/12: US$9.47)

·      NAV growth in 15 of the last 16 quarters

·      Share price reached all-time high during the period

·      NAV discount narrowed to 22% (FYE 28/2/12: 38%) 

Investment Activity

·      US$145.9 million of proceeds from the realization of 19 investments

·      US$200.7 million invested in 25 companies in the US and Europe

Strategic Initiatives

·      Period characterised by the implementation of several strategic initiatives supported by shareholders

o  A simplified share capital structure introduced to accommodate a growing number of US investors

o  Listing moved from the Main Market to the Specialist Fund Market of the London Stock Exchange

o  A new dividend policy to provide more predictable distributions at a rate of 3% of NAV per year in two instalments

o  The proportion of NAV able to be invested outside the US rose from 20% to 30%

Outlook

·      Positive outlook with a strong balance sheet enabling the Company to take advantage of a healthy pipeline of micro-cap investment opportunities in the US and Europe

David Zalaznick, JZCP's Founder and Investment Adviser, said:  "We are delighted with another excellent set of results for JZCP. The micro-cap sector has again provided the company with strong performance on which to generate superior returns for our shareholders." 

"This is also the first time that Shareholders have benefitted from our new dividend policy which, when combined with the significant share price rise, has resulted in a record total shareholder return of 43%. This strong performance has meant the Company's discount narrowed from 38% down to 22% during the period."

"We look ahead to 2013 with confidence knowing that JZCP is well positioned with a strong balance sheet to take advantage of the many opportunities we have in our pipeline."

David Macfarlane, Chairman of JZCP, said: "2012 has been a year of significant progress for the Company, both strategically and from a performance perspective. The Investment Adviser's unrivalled track record and expertise in US and European micro-cap buyouts continues to provide shareholders with long-term profitable growth."

There will be an analyst and investor presentation to discuss JZCP's recent financial performance and portfolio developments at 9.30am on 21 May 2013 at FTI Consulting, 26 Southampton Buildings, London WC2A 1PB. It can be accessed by dialling [phone] (UK) or [phone] (US) with the participant access code 4700243.

A playback facility will be available two hours after the conference call concludes. This facility may be accessed by dialling [phone] UK or [phone] US with the participant access code 4700243.

   Click on, or paste the following link into your web browser, to view the full announcement.

 

   http://www.rns-pdf.londonstockexchange.com/rns/1612F_1-2013-5-20.pdf

For further information:

Ed Berry / Tom Willetts                                                                         [phone] / 7297

FTI Consulting

David Zalaznick                                                                                    [phone]

Jordan/Zalaznick Advisers, Inc.

About JZCP

JZCP is a London listed private equity fund which invests in high quality US, European and Latin American micro cap companies. Our objective is to achieve a superior overall return comprised of a current yield and significant capital appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers, Inc. ("JZAI"), founded  by David Zalaznick and Jay Jordan, which has advised JZCP for twenty five years and has  investment professionals and offices 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 to our 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

The financial information set out below does not constitute the Company's statutory accounts for the year ended 28 February 2013. All figures are based on the audited financial statements for the year ended 28 February 2013.

The announcement is prepared on the same basis as will be set out in the audited financial statements for the year ended 28 February 2013.

The annual report and audited financial statements for the year ended 28 February 2013 will shortly be posted to shareholders and will also be available on the company website:  www.jzcp.com

 

 

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