30 Mar 2022 16:39
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.
30 March 2022
EJF Investments Ltd
Announcement of Final Results to 31 December 2021
The Directors of EJF Investments Ltd ("EJFI" or the "Company") announce the release of the Annual Report and Audited Financial Statements for the year ended 31 December 2021.
The Company exceeded its Target Return and continued to meet its Target Dividend. Total Net Asset Value ("NAV") return per ordinary share, inclusive of dividends, was 11.02% for the year ended 31 December 2021. Dividends paid in respect of the year ended 31 December 2021 totalled 10.7 pence per ordinary share.
The Company received all expected interest income from its underlying investments and experienced no noteworthy credit deterioration in the portfolio during the year. The Manager believes the Company remains well positioned to continue to benefit from favourable regulatory and economic conditions and continues to see an attractive pipeline of investments.
As referenced within the Annual Report and Audited Financial Statements for the year ended 31 December 2021, further details will be announced shortly regarding an Extraordinary General Meeting to be held for the Continuance Resolution, at which a resolution will also be put to Ordinary Shareholders to roll electing 2022 ZDP Shareholders into the 2025 ZDP Shares.
Highlights
· Total NAV return per ordinary share, inclusive of dividends, of 11.02% for the year ended 31 December 2021;
· Total NAV return per ordinary share, inclusive of dividends, of 69.8% since inception (exchange offer on 9 February 2017) to 31 December 2021;
· NAV as at 31 December 2021 of £104.8 million, 171 pence per ordinary share;
· Share price discount to NAV as at 31 December 2021 of 24.6%; and
· Dividend yield for the year ended 31 December 2021 based on dividends declared in respect of the period and share price at 31 December 2021 of 8.3%.
Post Annual Report Update
· Dividend of 2.675 pence per ordinary share paid in respect of the quarter ended 31 December 2021;
· Appointment of Liberum Capital Limited to act as the Company's broker on 10 January 2022; and
· NAV as at 28 February 2022 of £104.7 million or 171 pence per ordinary share, representing a year to date Total NAV return per ordinary share of 1.47%.
The Company's Annual Report and Audited Financial Statements for the year ended 31 December 2021 is attached to this release (http://www.rns-pdf.londonstockexchange.com/rns/6501G_1-2022-3-30.pdf) and will be available on the Company's website (https://www.ejfi.com/investors/) shortly.
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
+44 (0) 20 3100 2218 / +44 (0) 20 3100 2223
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.