JZ CAPI ZDRP
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 Percentage of votes Votes
votes cast for against cast against 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 Percentage of votes Votes
votes cast for against cast against 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 Percentage of votes Votes
votes cast for against cast against 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 Percentage of votes Votes
votes cast for against cast against withheld
Resolution 77,310,100 99.97% 23,908 0.03% 0
1
Resolution 70,916,251 99.97% 23,908 0.03% 0
2
Resolution 70,916,251 99.97% 23,908 0.03% 0
3
Resolution 31,813,601 99.92% 23,908 0.08% 39,102,650
4
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 +44 (0)20 7742 4000
J.P. Morgan Cazenove
Ed Berry / Kit Dunford +44 (0) 20 3727 1046 / 1143
FTI Consulting
David Macfarlane
JZ Capital Partners Limited
David Zalaznick +1 (212) 485 9410
Jordan/Zalaznick Advisers, Inc.
Rebecca Booth / Teresa Le Couteur-Tembo +44 (0)1481 745189
Northern Trust International Fund
Administration Services (Guernsey)
Limited
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.
JZ CAPI ZDRP : Capital Partners Ltd - Result of CULS Meeting, Separate General Meetings & EGM
May 16, 2017 at 08:54 pm IST
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