10 Sep 2021 07:00
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.
10 September 2021
EJF Investments Limited (the "Company")
Announcement of Interim Results to 30 June 2021
The Directors of the Company announce the interim results for the period 1 January 2021 to 30 June 2021.
Highlights
· Total net asset value ("NAV") return per ordinary share, inclusive of dividends, of 5.45% to 30 June 2021.
· NAV at 30 June 2021 of £102.7 million; 168.0 pence per ordinary share.
· Share price at 30 June 2021 of 127.5 pence per ordinary share (a discount to NAV of 24.1%).
· 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 124.5 pence per 2022 ZDP share as at 30 June 2021.
· 2025 Zero-dividend preference ("2025 ZDP") shares trading at 111.0 pence per 2025 ZDP share as at 30 June 2021.
· Amendment to the Company's hedging strategy effective 15 February 2021, whereby the Company no longer hedges 100% of its US dollar exposure and entered into contracts to hedge only the final Sterling capital entitlement of the outstanding 2022 ZDP shares and 2025 ZDP shares.
· Further investments of approximately £1.8 million into Seneca (a platform to invest in mortgage servicing rights) and a new purchase of £9.8 million in liquid fixed rate UK bank bonds.
Post Interim Financial Statements Update
· NAV at 31 July 2021 of 168 pence per ordinary share.
· Dividend of 2.675 pence per ordinary share announced in July 2021 with payment made on 31 August 2021.
A copy of the Company's Interim Report and Unaudited Condensed Interim Financial Statements for the period ended 30 June 2021 (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 2021. As the world continues to re-open and roll out vaccinations for COVID-19, the first half of 2021 showed strong performance for the Company resulting in a Total Return for the period of 5.45%".
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 1534 813 996
For the Broker
Numis Securities Limited
David Luck
d.luck@numis.com
+44 20 7260 1301