Och-Ziff Capital Management (OZM) to Change its Tax Classification from Partnership to a Corporation Effective April 1
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As previously disclosed by Och-Ziff Capital Management Group LLC (NYSE: OZM) (the “Company,” or “Oz Management” or “Oz”), in connection with the Company’s previously announced recapitalization and other transactions, the Company announced that it intended to change its tax classification from a partnership to a corporation effective on December 31, 2018 and also noted at such time there could be no assurances that such date could be achieved.
The Company has subsequently determined to change its tax classification from a partnership to a corporation effective April 1, 2019 (the “Corporate Classification Date”).
The Company expects to make a final partnership distribution for the fourth quarter of 2018 on March 29, 2019 to shareholders of record at the close of business on March 22, 2019. Shareholders will receive a final Form K-1 for the period from January 1, 2019, through the date immediately preceding the Corporate Classification Date. There can be no assurance that shareholders will receive sufficient distributions to satisfy payment of tax liabilities in respect of their membership interests in the Company. Distributions received after the Company’s change in tax classification will be treated as dividends and reported on Form 1099-DIV.
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