TIDMEJFI TIDMEJFZ

RNS Number : 8491Y

EJF Investments Ltd

09 September 2022

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, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

9 September 2022

EJF Investments Limited (the "Company")

Announcement of Interim Results to 30 June 2022

The Directors of the Company announce the interim results for the period 1 January 2022 to 30 June 2022.

Highlights

-- Total net asset value ("NAV") return per Ordinary Share, inclusive of dividends, of 10.69% to 30 June 2022.

   --   NAV at 30 June 2022 of GBP112.6 million; 184.0 pence per Ordinary Share. 
   --   Share price at 30 June 2022 of 121.0 pence per Ordinary Share (a discount to NAV of 34.2%). 
   --   Two quarterly dividends of 2.675 pence per Ordinary Share declared and paid in the period. 

-- 2022 Zero-Dividend Preference ("2022 ZDP") shares trading at 128.5 pence per 2022 ZDP Share as at 30 June 2022.

-- 2025 Zero-Dividend Preference ("2025 ZDP") shares trading at 116.5 pence per 2025 ZDP Share as at 30 June 2022.

-- On 4 April 2022, the Company published a prospectus approved by the Financial Conduct Authority in relation to the Rollover Offer to convert existing 2022 ZDP Shares into 2025 ZDP Shares as well as a Placing Programme of up to 70 million new Ordinary Shares and/or new C Shares and up to 25 million new 2025 ZDP Shares.

-- Amendment to the Company's hedging strategy effective 10 May 2022, whereby the Company increased the level of foreign exchange hedge so that approximately 40% of the Company's US dollar assets were hedged against currency movements, and the Board approved that this level may be moved up or down to hedge between 60% of US dollar assets and the final capital entitlement of the ZDP Shares only. As at 30 June 2022, approximately 50% of that exposure was hedged.

-- On 5 May 2022, an Extraordinary General Meeting was held where all ordinary and special resolutions put to shareholders, including the Continuation vote and Rollover Offer to convert existing 2022 ZDP Shares into 2025 ZDP Shares, were duly passed.

-- Further investments of approximately GBP1.9 million into Seneca and GBP3.6 million in FinTech debt securities.

Post Interim Financial Statements Update

   --   NAV at 31 July 2022 of 186.0 pence per Ordinary Share. 

-- Dividend of 2.675 pence per Ordinary Share announced in July 2022 with payment made on 31 August 2022.

A copy of the Company's Interim Report and Unaudited Condensed Interim Financial Statements for the period ended 30 June 2022 (including the charts referred to in the Investment Manager's Report) will shortly be available on the Company's website (https://www.ejfi.com/investors?category=financial-reports), on the National Storage Mechanism (https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism) and will also be provided to those shareholders who have requested a printed or electronic copy.

Joanna Dentskevich, Chair of the Company, said: "On behalf of the Board, I am pleased to present the Interim Report for the period ended 30 June 2022. During the period, the Portfolio provided strong performance for investors generating a Total Return of 10.69% despite the volatile market backdrop. Amidst raised concerns about future economic growth, rising interest rates, inflation and increasing geopolitical uncertainty, to mention a few of the current headwinds, I believe the Company's continued performance to be particularly pleasing".

Enquiries:

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Matt Gill

pstage@ejfcap.com / mgill@ejfcap.com

+44 203 752 6775 / +44 203 752 6776

For the Company Secretary and Administrator

BNP Paribas Securities Services S.C.A., Jersey Branch

jersey.bp2s.ejf.cosec@bnpparibas.com

+44 1534 709 181 / +44 1534 813 996

For the Broker

Liberum Capital Limited

Darren Vickers / Owen Matthews / Lydia Zychowska

Darren.Vickers@liberum.com / Owen.Matthews@liberum.com / Lydia.Zychowska@liberum.com

+44 203 100 2222

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.

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September 09, 2022 02:01 ET (06:01 GMT)

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