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JZCP Jz Capital Partners Limited

215.00
0.00 (0.00%)
Last Updated: 08:00:13
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Jz Capital Partners Limited LSE:JZCP London Ordinary Share GG00B403HK58 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 215.00 0.00 08:00:13
Bid Price Offer Price High Price Low Price Open Price
190.00 240.00 215.00 205.00 215.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec USD 22.2M USD 2.65M USD 0.0342 62.87 166.58M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 215.00 GBX

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Date Time Title Posts
18/4/202417:38J Z CAPITAL PARTNERS267

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Posted at 26/4/2024 09:20 by Jz Capital Partners Daily Update
Jz Capital Partners Limited is listed in the Investors, Nec sector of the London Stock Exchange with ticker JZCP. The last closing price for Jz Capital Partners was 215p.
Jz Capital Partners currently has 77,477,214 shares in issue. The market capitalisation of Jz Capital Partners is £166,576,010.
Jz Capital Partners has a price to earnings ratio (PE ratio) of 62.87.
This morning JZCP shares opened at 215p
Posted at 18/4/2024 17:36 by grahamg8
Agreed topvest. I thought the idea was to sell off all the assets and return the proceeds to shareholders. If that were the case it should preclude any new investment. The complexity of some of the previous JZ Private Equity deals does make me uneasy. The share price has tanked over the years, but I suspect those in control are doing very nicely thank you. Yet another complex related party transaction would not seem to be in the interests of shareholders at all.
Posted at 18/4/2024 16:49 by topvest
Can anyone understand their announcements? The Follow-on Flex Pack deal just looks like a very complex related party transaction. Why are we investing in new structures and only a US$40m initial return? The share price goes up, but I'm confused. What's really going on?
Posted at 22/1/2024 17:06 by sharpshare
USD120m in cash or 121p per share.
Please send soon.
Posted at 20/12/2022 19:03 by pldazzle
Hi grahamg8, I fear you are confusing cost and book value. The assets are held in the balance sheet at market value, not at original cost, as is normal in such cases. Any change in the MV, whether up or down, is booked to profit and loss account each year/half-year.

So the book value of the assets sold (i.e. MV) totals $141.3m, less $30.3m worth retained, = $111m. Total proceeds, including delayed proceeds, are projected at $87.5m, which is a 21% overall discount.

The overall loss on sale will reduce the NAV, other things being equal, to $4.28/share or 351p/share.

The real point, in my view, is that the company will soon have (at least) $151m cash, with liabiities of only $64m and commitments not on the balance sheet of another $10.5m (see interim accounts note 19). That works out at around 81p/share net, on which it's arguable that only minimal discount is due. The balance of 270p/share is in private investments, which would need to be realised at an overall discount of less than 60% or so to justify the current price. That should hopefully be achievable but for me, when you factor in the time value of money, it doesn't quite set the world on fire (£1 of realisations in the future is worth less than £1 of realisations today, and liquidating the portfolio won't happen overnight). Not in my book, or at least not yet. But another sale at a $40m profit might change that!
Posted at 20/12/2022 18:16 by grahamg8
That's good to hear pldazzzle. I try to stay positive, and overall the numbers don't look too bad. Current share price 170p, last NAV was $4.59ps roughly a discount of 55% (Hargreaves say 57%). So the market doesn't believe the values can be achieved when turning assets into cash. But any series of sales at a discount better than 55% should eventually push the share price up.

As far as I can tell we have disposed of book value assets of $93.01m and received $86.5m which is a paltry discount of 7%.

Perhaps equally important just over 20% of the net assets have been turned from in the wind investments into hard cash. If only the rest can be sold with similar results.
Posted at 03/10/2022 18:05 by rob the slob
Congrats to all JZCZ holders who saw this thing through. Full redemption of the ZDP's today. Money in my account. Just revisited my post from 2.5yrs ago. 30% pa yield tick!That concludes my investment here. Best wishes and good luck to all JZCP holders. Bye!
Posted at 15/6/2022 11:18 by robizm
They always seem jam tomorrow type of share and it never seems to get better
Posted at 21/6/2021 09:46 by davebowler
Liberum;
JZ Capital Partners

Balance sheet de-gearing continues with Salter Labs disposal

Mkt Cap £95m | Share price 122.5p | Prem/(disc) -60.0% | Div yield n/a

Event

JZ Capital Partners completed the sale of its interests in Salter Labs. Net proceeds from the sale are $41m, 9% ahead of the latest book value of $37.6m. Further proceeds of $0.75m have been placed in escrow and may be received, depending on the certain closing adjustments.

JZCP will use $33m to repay part of its senior lending facility. The remaining balance under the facility following the repayments will be $35m.

Liberum view

Progress with disposals has enabled an improvement in the company's debt position. The senior lending facility has been extended to June 2022, albeit the cost on the remaining debt is Libor +15%. JZCP will fully redeem the CULS in July 2021 and has also agreed a $31.5m facility provided by principals of the investment manager. Given the level of asset cover, the ZDP holders should expect a full return of capital but this may require an extension to the maturity date (October 2022). Most of the investments are minority positions. The manager is not in control of the exit process and is ultimately reliant on the cooperation of partners to achieve realisations.
Posted at 19/5/2021 10:26 by davebowler
Liberum;
Light at the end of the tunnel

Mkt Cap £98m | Share price 126.5p | Prem/(disc) -58.1% | Div yield n/a

Event

JZCP's NAV per share at 28 February 2021 was $4.25 per share (February 2020: $6.14), representing a decline of 30.8% over the year. The main driver of the NAV decline was revaluation losses on the real estate portfolio (26% NAV impact) in the first half of the year, partially offset by gains of 2.2% from the micro-cap portfolio.

The US and European micro-cap portfolios have been relatively stable. The portfolios comprise a total of 35 companies across 11 industries. As previously reported, JZCP completed a secondary sale of US micro-cap assets in December for $90m. The real estate portfolio is still held at the last appraised value from August 2020. Most of the equity in the company's real estate projects has been written down to zero in the first half of the financial year.

Progress with disposals has enabled an improvement in the company's debt position although there is still plenty to be done. Earlier this week, JZCP reported that it had reached an agreement with its senior lender to extend the term on the debt to June 2022. The company will fully redeem the CULS and has also agreed a $31.5m facility provided by principals of the investment manager. Several realisations are expected over the coming 12 months which should help to de-gear the balance sheet further.

Liberum view

The outlook for JZCP has improved considerably in the second half of the financial year. The disposal of the Micro-Cap portfolio provided much-needed liquidity and has helped to stabilise the balance sheet. Given the level of asset cover, the ZDP holders should expect a full return of capital but this may require an extension to the maturity date (October 2022). Most of the investments are minority position. The manager is not in control of the exit process and is ultimately reliant on the cooperation of partners to achieve realisations, leading to the potential for a lengthy exit process.
Posted at 16/4/2021 15:31 by raptor_fund
Now all I need is them to have enough cash to pay off that reasonably priced zero dividend preference share sitting at a 25% discount and 2x cover.
Jz Capital Partners share price data is direct from the London Stock Exchange

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