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.
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.