Issue of Equity and Repurchase into Treasury

RNS Number : 4061G

EJF Investments Ltd

05 November 2018

 

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 UNITED KINGDOM), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

EJF Investments Ltd

5 November 2018

Issue of equity and repurchase into treasury

The board of EJF Investments Ltd (the "Company") announces that on 5 November 2018 it approved the issue of 9,000,000 ordinary shares (the "Shares") to Numis Securities Limited, the Company's corporate broker, under the Placing Programme (as described in the Company's Prospectus, dated 9 November 2017) at a price of 182 pence per share, being equivalent to the net asset value ("NAV") per share as at 30 September 2018, which is the Company's latest published NAV per share.

The Shares will on Admission (as defined below) be immediately repurchased by the Company, at the same price (being the latest published NAV per share), to be held in treasury. The net cash position of the Company, following these transactions, remains unchanged. The Shares held in treasury will be available to be sold to meet ongoing market demand. The Shares will only be sold from treasury at a premium to the prevailing NAV per share.

The Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Shares. Application has been made to the FCA for the Shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective and dealings in the Shares will commence at 8.00 a.m. on 8 November 2018.

Following Admission and the repurchase noted above, the number of ordinary shares that the Company has in issue will be 69,557,192 of which 9,000,000 ordinary shares are held in treasury. The total number of voting rights of the Company will be 60,557,192 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.

ENQUIRIES

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Hammad Khan / Matt Gill

[e-mail] / [e-mail] / [e-mail]

[phone] / [phone] / [phone]

For the Company Secretary and Administrator

Crestbridge Fund Administrators Limited

[e-mail]

[phone]

For the Broker

Numis Securities Limited

David Luck

[e-mail]

[phone]

About EJF Investments Ltd

The Company 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

 

 

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