REG-JZ Capital Partners Ltd: Interim Results for the Period Ended 31 August 2025

JZ Capital PartnersAnnouncement

06/11/2025 07:00

JZ CAPITAL PARTNERS LIMITED (the "Company" or "JZCP")                         
                         
                                                      (a closed-end investment
company incorporated with limited liability under the laws of Guernsey with
registered number 48761)

INTERIM RESULTS FOR THE PERIOD ENDED 31 AUGUST 2025                           
                                          
 

LEI: 549300TZCK08Q16HHU44

(Classified Regulated Information, under DTR 6 Annex 1 section 1.2)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

6 November 2025

JZ Capital Partners, the London listed fund that has investments in US and
European micro-cap companies and US real estate, announces its interim results
for the period ended 31 August 2025.

JZCP has today released its Interim Report and Financial Statements for the
period ended 31 August 2025. The Report will shortly be available for
inspection via the Company's website                                         
                                      www.jzcp.com                            
                                                  .

The document will shortly be available for inspection on the National Storage
Mechanism website:                                                            
                                          
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Financial and Operational Highlights
*                                                                  NAV per
share of $4.04 (FYE 28/02/25: $4.06)                                          
                  
*                                                                  NAV of
$243.7 million (FYE 28/02/25: $274.6 million)                                 
                           
*                                                                  Total
proceeds from realised investments and escrow receipts of $2.3 million (FYE
28/02/25: $47.4 million)                                                      
     
*                                                                  The US and
European micro-cap portfolios were down a combined 6 cents per share for the
six-month period. The Company continues to work towards further realisations
in both portfolios.                                                           

*                                                                  The Company
has two remaining properties with equity value: Esperante, an office building
in West Palm Beach, Florida, and 247 Bedford Avenue, a retail building with
Apple as the primary tenant, in Williamsburg, Brooklyn.
Investment Policy and Liquidity
*                                                                  Since the
Company adopted its current investment policy in August 2020, the Company has
achieved realisations in excess of $500 million, repaid approximately $270
million of debt and returned $70 million of capital to shareholders.          
                                                 
*                                                                  Future
returns of capital depend on further realisations, with only modest activity
expected in the near term and most portfolio value likely to be realised
towards the end of the wind-down period.                                      
                     
*                                                                  As at 31
August 2025, the Company is debt free and had approximately $77 million of
cash and treasuries and a reduced but still substantial investment portfolio
of approximately $166 million.                                                
            
*                                                                  In line
with the Company’s investment policy, certain assets within the portfolio
will require significant further investment and time to maximise their value: 
                                                          
*                                                                             
                     The Company has reserved $20.5 million for Follow-on Flex
Pack (through JZHL Secondary Fund LP), of which $12.3 million has been
invested.                                                                     
                      
*                                                                             
                     The Company has reserved the following amounts for
certain other existing assets: approximately $12.5 million for Esperante, of
which $9 million has been invested; $15 million for Spruceview; and $20
million for capital calls from JZI Fund III, L.P., including an anticipated
requirement for further support.
David Macfarlane, Chairman of JZCP, said:                                     
                                                           “The Company
remains in a strong financial position, having returned approximately $70
million to shareholders to date. The Board and Investment Adviser remain
focused on executing the Company’s investment policy, maximising the value
of remaining investments, ensuring their orderly realisation, and returning
capital to shareholders.”

Market Abuse Regulation:

The information contained within this announcement is inside information as
stipulated under MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public domain. The person
responsible for arranging the release of this announcement on behalf of the
Company is David Macfarlane, Chairman.

For further information:                                                      
        
                                                Kit Dunford      
                                                           
+44 (0)7717 417 038                                                           
                                         
                                                                           FTI
Consulting                                                                    
 
          
                                                                          
David
Zalaznick                                                           
+1 212 485 9410
Jordan/Zalaznick Advisers, Inc.                                               
                      
          
                                                                          
Samuel Walden
                                                           
+44 (0) 1481 745228                                                           
          
                                                                          
Northern Trust International Fund                                             
                         
                                                                          
Administration Services (Guernsey) Limited

About JZ Capital Partners

JZCP has investments in US and European micro-cap companies, as well as real
estate properties in the US.

JZCP’s Investment Adviser is Jordan/Zalaznick Advisers, Inc. (“JZAI”)
which was founded by David Zalaznick and Jay Jordan in 1986. JZAI is supported
by teams of investment professionals in New York, Chicago, London and Madrid.

In August 2020, the Company's shareholders approved changes to the Company’s
investment policy. Under the policy, the Company will make no further
investments except in respect of which it has existing obligations and to
continue to selectively supporting the existing portfolio. The intention is to
realise the maximum value of the Company's investments and, having repaid of
all debt (completed December 2023), to return capital to shareholders.

JZCP is a Guernsey domiciled closed-ended investment company authorised by the
Guernsey Financial Services Commission. JZCP's shares trade on the London
Stock Exchange.

For more information please visit www.jzcp.com.



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