Corporate Update

EJF Investments Ltd

22 December 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.

22 December 2023

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

Corporate Update

As communicated on 11 January 2023, EJF Capital LLC ("EJF"), through its ownership of EJF Investments Manager LLC (the "Investment Manager"), currently voluntarily absorbs 60% of the recurring operating expenses of the Company, aside from management and incentive fees.

The Investment Manager has informed the Board of the Company that, with effect from 1 January 2024, EJF will now absorb 10% of the Company's recurring operating expenses and that this arrangement will remain in place until at least 31 December 2024, or if earlier, until the date on which the unaudited net asset value of the Company reaches £300 million.

Since April 2017, the Investment Manager has voluntarily contributed a total of £6.8m towards the Company's ongoing operating expenses. The reduction in EJF's absorption of operating expenses is estimated to have a negative impact to the Company in 2024 of approximately 50bps based on the latest reported NAV.

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 Brokers

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'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.

 

END