REG - EJF Investments Ltd EJF Investments-EJFZ - Corporate Update

EJF InvestmentsAnnouncement

17/06/2024 17:45

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RNS Number : 7708S  EJF Investments Ltd  17 June 2024

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7
OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE
EUROPEAN ECONOMIC AREA (OTHER THAN THE REPUBLIC OF IRELAND), AUSTRALIA,
CANADA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

17 June 2024

EJF Investments Ltd ("EJFI" or the "Company")

CORPORATE UPDATE

 

The Board of EJFI, which provides investors exposure to a diversified
portfolio of debt issued by smaller US banks and insurance companies and
participation in certain management fee income streams of EJF Capital LLC, has
been informed by the Manager of its decision to invest in ordinary shares of
the Company for at least four consecutive quarters (Q3 2024 - Q2 2025).
Accordingly, commencing during the course of Q3 2024, the Manager and/or its
affiliates shall invest an amount equal to approximately 20% of the Manager's
EJFI management fee earned for the immediately preceding quarter, for so long
as the average share price during the prior quarter traded at least 15% below
the Net Asset Value (NAV) per share at the prior quarter end. For this
process, a broker appointed by the Manager is intended to be irrevocably
authorised and instructed to buy ordinary shares, provided always that the
purchase price shall not be greater than the price which is equal to a 10%
discount to the latest published Net Asset Value per Share.

 

The Manager may elect to continue with this program beyond Q2 2025 and will
announce any such decision in the future.

 

The Manager has also informed the Board that beginning 1 July 2024, it will
discontinue its policy to voluntarily absorb 10% of recurring operating
expenses of the Company, aside from management and incentive fees.
Cumulatively, the Manager has reimbursed approximately £6.8m of EJFI's
recurring operating expenses since its initial listing in April 2017.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Jeremy Hamon, Company Secretary.

 

 

ENQUIRIES

For the Manager

EJF Investments Manager LLC

Peter Stage / Jay Ghatalia

pstage@ejfcap.com / jghatalia@ejfcap.com

+44 203 752 6775 / +44 203 752 6776

 

For the Company Secretary and Administrator

BNP Paribas S.A., Jersey Branch

jersey.bp2s.ejf.cosec@bnpparibas.com

+44 1534 709 198/ +44 1534 709 108

 

For the Brokers

Barclays Bank PLC

Dion Di Miceli / Stuart Muress

BarclaysInvestmentCompanies@barclays.com

 +44 20 7623 2323

 

Liberum Capital Limited

Darren Vickers / Owen Matthews

ejfinvestments@liberum.com

+44 203 100 2222

 

About EJF Investments Ltd

EJFI's objective is to provide shareholders with attractive risk adjusted
returns through regular dividends and capital growth over the long term. EJFI
generates exposure primarily to a diversified portfolio of loans issued by
financial institutions and related or similar assets in the U.S., U.K. and
Europe.

EJFI currently invests primarily in CDO Equity Tranches structured by an
affiliate of EJF Capital LLC, providing levered exposure to a highly
diversified portfolio of securities issued by U.S. financial institutions
(banks and insurance companies), these being Risk Retention Investments.

EJFI is a registered closed-ended limited liability company incorporated in
Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016
with registered number 122353. The Company is regulated by the Jersey
Financial Services Commission (the "JFSC"). The JFSC is protected by both the
Collective Investment Funds (Jersey) Law 1988 and the Financial Services
(Jersey) Law 1998, as amended, against liability arising from the discharge of
its functions under such laws.

The JFSC has not reviewed or approved this announcement.

LEI:  549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its
website at www.ejfi.com (http://www.ejfi.com) .

This communication has been issued by, and is the sole responsibility of, the
Company and is for information purposes only. It is not, and is not intended
to be an invitation, inducement, offer or solicitation to deal in the shares
of the Company. The price and value of shares in the Company and the income
from them may go down as well as up and investors may not get back the full
amount invested on disposal of shares in the Company. An investment in the
Company should be considered only as part of a balanced portfolio of which it
should not form a disproportionate part. Prospective investors are advised to
seek expert legal, financial, tax and other professional advice before making
any investment decision.

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