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(Alliance News) - JZ Capital Partners Ltd on Wednesday said it has decided to realise the maximum value of its current investments, after repayment of all debt, and return capital to shareholders.
The company, which invests in US and European micro-cap companies and US real estate, added that it will make no further investments except in respect of which it has existing obligations or to the extent that investment is required to support existing investments.
"Whilst the investment managers have been working assiduously in difficult circumstances to stabilise the company's investments, the board of JZCP recognises that, as a result of the disappointing and significant losses in value of its real estate portfolio and poor performance, and having reviewed all available options, there has to be a change in investment policy," JZ Capital explained.
The company has decided to delay the release of its results for the year ended February 29 to June from May due to the uncertainties created by the Covid-19 crisis.
Shares in JZ Capital were untraded at 110.50 pence each in London on Wednesday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
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