10 May 2022 16:46
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.
10 May 2022
EJF Investments Ltd
Corporate Update
The Company currently adopts a hedging strategy whereby its US dollar exposure is hedged against Sterling to cover the final Sterling capital entitlement of its outstanding 2022 and 2025 zero dividend preference shares.
Following recent weakness of Sterling against the US dollar, the Manager has requested that it be allowed to increase the level of the Company's foreign exchange hedge to crystallise a portion of recent currency hedge gains. The Board has approved an increase so that approximately 40% of the Company's US dollar assets are hedged against currency movements, and that this level may be moved up or down to hedge between 60% of US dollar assets and final capital entitlement of zero dividend preference shares only, which is currently around 24% of the Company's US dollar assets.
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.
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 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 / +44 1534 709 198
For the Broker
Liberum Capital Limited
Darren Vickers / Owen Matthews / Lydia Zychowska
+44 203 100 2222
About EJF Investments Limited
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.
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.