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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END
IR VVLFBLKLLBBD
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