CORPORATE UPDATE

EJF Investments Ltd

21 June 2023

 

FOR IMMEDIATE RELEASE

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.

21 June 2023

EJF Investments Ltd ("the Company")

CORPORATE UPDATE

The Company previously adopted a hedging strategy whereby its US dollar exposure was hedged against Sterling to cover the final Sterling capital entitlement of its outstanding 2022 and 2025 zero dividend preference shares. In May 2022, following weakness of Sterling against the US dollar, the Board approved the manager's request to have greater flexibility to hedge foreign exchange risk so that between 60% of US dollar assets and final capital entitlement of zero dividend preference shares may be hedged. Following recent strengthening of Sterling against the US Dollar, the Board has approved the Manager's request to increase the upper hedging limit to 75% of US dollar assets, which the Manager may or may not elect to use. 

The hedged and unhedged proportions of US dollar assets are disclosed in the monthly factsheet, and most recently was 55.1% on 31st May 2023. The Board will review the Company's hedging policy regularly and will communicate any material changes to the strategy in future.

ENQUIRIES

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Jay Ghatalia           

[e-mail] / [e-mail]

[phone] / [phone]

For the Company Secretary and Administrator

BNP Paribas S.A., Jersey Branch

[e-mail]

[phone]/ [phone]

For the Broker

Barclays Bank PLC

Dion Di Miceli / Stuart Muress

[e-mail]

 [phone]

Liberum Capital Limited

Darren Vickers / Owen Matthews

[e-mail]

[phone]

About EJF Investments Ltd

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.

 

END