JZ Capital Partners Ltd - Compulsory Redemption of Shares and Total Voting Rights

JZ CAPITAL PARTNERS LIMITED (the "Company")
(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 48761)
LEI 549300TZCK08Q16HHU44

Compulsory Redemption of Shares and Total Voting Rights

26 July 2024

Unless otherwise defined herein, capitalised terms used in this announcement have the meanings given to them in the circular of the Company dated 30 May 2024 (the Circular).

Completion of Compulsory Redemption of Shares

Further to the announcements made by the Company on 3 July 2024 and 10 July 2024, the Company today announces that, on 25 July 2024 (the Redemption Date), it effected a compulsory partial redemption of 9,803,921 Ordinary Shares (the Redemption), which will result in the return of an aggregate amount of US$39,999,997.68. On this basis, approximately 12.65% of the Company's total issued share capital has been redeemed pursuant to the Redemption.

The Redemption was effected at a price of US$4.08 per Ordinary Share (the Redemption Price) from all Ordinary Shareholders pro rata to their existing holdings of Ordinary Shares as at the close of business on 25 July 2024 (the Redemption Record Date). The Redemption Price, which was determined by the Board, represented the NAV per Ordinary Share as published on 21 June 2024 (being the most recently published month-end NAV of the Company prior to the announcement made by the Company on 10 July 2024).

Following the Redemption, the Company now has 67,673,293 Ordinary Shares in issue and, with effect from today, the Ordinary Shares will trade under the new ISIN number: GG00BT3MVL31. Shareholders' existing share certificates for the Ordinary Shares subject to the Redemption will be cancelled and new certificates will be issued for the balance of their holding of Ordinary Shares. It is expected that new share certificates will be dispatched by 1st class post at the risk of Shareholders by 8 August 2024.

It is expected that payments of Redemption monies will be paid either through CREST (in the case of Ordinary Shares held in uncertificated form) or by cheque (in the case of Ordinary Shares held in certificated form) by 8 August 2024.

As mentioned in the announcement made by the Company on 10 July 2024, with respect to any potential further returns of capital in the longer term, Shareholders should note that the Board retains absolute discretion as to the execution, extent and timing of any further potential returns of capital. Further, the Company remains committed to its investment policy and specifically the strategy of realising the maximum value of investments and, having repaid all debt, returning capital to Shareholders, subject always to retaining sufficient funds to cover existing obligations and support certain existing investments to maximise their value. To that end, the Company will continue to assess its ability to make further returns of capital to Shareholders (as well as the manner in which they are made), and will seek to do so as and when it has sufficient cash reserves that are not otherwise required to support its existing investments to maximise value and/or to meet its existing obligations such as operational expenses.

Total Voting Rights

In accordance with the FCA's Disclosure Guidance and Transparency Rules the Company also notifies the market of the following:

The total number of ordinary shares in issue as at 8.00 a.m. on 26 July 2024 was 67,673,293 with each ordinary share carrying the right to one vote.

The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company is 67,673,293.

This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

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For further information:

Important Notice

This announcement contains a number of "forward-looking statements". Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates", "forecast", "plan" and "project" or in each case, their negative, or similar expressions identify forward-looking statements. Such statements reflect the relevant company's current views with respect to future events and are subject to risks, assumptions and uncertainties that could cause the actual results to differ materially from those expressed or implied in the forward-looking statements. Many of these risks, assumptions and uncertainties relate to factors that are beyond the companies' abilities to control or estimate precisely, such as future market conditions, changes in general economic and business conditions, introduction of competing products and services, lack of acceptance of new products or services and the behaviour of other market participants. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Shareholders should not, therefore, place undue reliance on these forward-looking statements, which speak only as of the date of this document. Except as required by applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.