EJF Investments Ltd Corporate Update (3358N)
29 Enero 2021 - 01:02AM
UK Regulatory
TIDMEJFI TIDMEJFZ
RNS Number : 3358N
EJF Investments Ltd
29 January 2021
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.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
29 January 2021
EJF Investments Ltd (the "Company")
Corporate Update
The Company currently adopts a hedging strategy whereby 100% of
its US dollar exposure is hedged against Sterling. As a result, the
Company is required to hold significant levels of cash, including
amounts already on margin as a buffer to protect against margin
calls. The Board of the Company announces that, with effect from 15
February 2021, the Company will no longer hedge 100% of its US
dollar exposure and will enter into contracts to hedge only the
final Sterling capital entitlement of its outstanding 2022 and 2025
zero dividend preference shares.
The Board anticipates that the reduction in the hedging costs
together with the release of the cash on hand for pipeline
investments will positively contribute to the Company's overall
investment returns.
The hedged and unhedged proportions of US dollar assets will be
disclosed in the monthly factsheet.
The Board will review the Company's hedging policy regularly and
will communicate any material changes to the strategy in
future.
This announcement contains inside information as defined in
Regulation (EU) No 596/2014 as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018
and is in accordance with the Company's obligations under Article
17 of that Regulation. The person responsible for arranging the
release of this announcement is Matt Gill, Chief Financial Officer
of the Company.
ENQUIRIES
For the Investment Manager
EJF Investments Manager LLC
Peter Stage / Hammad Khan / Matt Gill
pstage@ejfcap.com / hkhan@ejfcap.com / mgill@ejfcap.com
+44 203 752 6775 / +44 203 752 6771 / +44 203 752 6774
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 1481 750 822
For the Broker
Numis Securities Limited David Luck d.luck@numis.com
+44 20 7260 1301
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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END
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January 29, 2021 02:02 ET (07:02 GMT)
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