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.
10 July
2024
EJF Investments Ltd ("EJFI"
or the "Company")
CORPORATE
UPDATE
The Board of EJFI, which provides
investors exposure to a diversified portfolio of debt issued by
smaller US banks and insurance companies and participation in
certain management fee income streams of EJF Capital LLC ("EJF"),
is pleased to announce that John Kingston will be appointed
as a non-executive director to take effect on the date on which the
Jersey Financial Services Commission confirms that it has no
objection to such appointment, or such later date as the Board may
determine.
It is expected that Mr. Kingston
will also be appointed as the Chair of the Board of Directors of
the Company following a short handover period from the Interim
Chair, Alan Dunphy.
After graduating from Harvard Law
School and the University of Pennsylvania's Wharton School of
Business, Mr. Kingston began his career with legal positions at
Ropes & Gray (a global law firm) and Morgan Stanley. In
1999, Mr. Kingston joined Affiliated Managers Group (NYSE: AMG),
becoming part of the senior leadership team that grew a small
investment management platform into a global asset management firm
with (at the time of his departure) approximately $700 billion in
AUM and an enterprise value of nearly $15 billion. Mr. Kingston
retired as Vice Chairman of AMG in 2015, having overseen all
corporate governance, risk management and controls, and legal,
regulatory, and compliance functions.
Mr. Kingston has founded and/or
overseen (stewarding through governing and advisory boards) a
variety of for-profit, not-for-profit and political initiatives,
including the AMG Mutual Funds, Mangrove Management Partners,
Lattice Capital Management, the Pioneer Institute, Veritas Forum,
the Forward Party, Foundation for Excellence in Higher Education,
Committee to Fix the Debt, and the American Enterprise
Institute.
There are no matters in respect of
Mr. Kingston requiring disclosure under paragraphs 9.6.13 (1) to
(6) of the Listing Rules.
Mr. Kingston is a member of the
supervisory body of two private funds (organised as limited
partnerships), managed by affiliates of EJF. The Directors believe
that it is appropriate to treat Mr. Kingston as an Independent
Non-Executive Director and Chair for the purposes of the AIC Code,
notwithstanding his membership of such supervisory bodies (as their
primary role is to resolve conflicts, if any, between the funds and
EJF and not, for the avoidance of doubt, the oversight of the
funds). Neal Wilson, Co-Chief Executive Officer and Co-Chief
Investment Officer of EJF is also a member of the supervisory
bodies of these two funds. Mr. Kingston is not a director of the
general partner of either fund. Any fees Mr. Kingston receives for
serving on these supervisory bodies are paid to Mr. Kingston by the
funds directly. The Directors do not believe that Mr. Kingston's
existing position as member of the aforementioned supervisory
bodies gives rise to any relationships that may create a conflict
of interest between Mr. Kingston's interest and those of EJFI's
shareholders.
Further, the Board of EJFI, has been
informed by EJF Investment Manager LLC (the "Manager") that Peter
Stage, the Co-Chief Investment Officer of the Manager has decided
to leave the Manager effective 31 August 2024, to pursue other
career opportunities. Neal Wilson, Co-Chief Executive Officer of
EJF and Chief Executive Officer of the Manager will continue to
lead the management of the portfolio of EJFI.
The Board and EJF would like to
thank Mr. Stage for the role he has played since the listing of the
Company in April 2017 and wish him the best for the
future.
ENQUIRIES
For
the Manager
EJF Investments Manager
LLC
Adeeb Ahmed / Jay Ghatalia
aahmed@ejfcap.com
/ jghatalia@ejfcap.com
+44 203 752 6774 / +44 203 752
6776
For
the Company Secretary and Administrator
Apex Financial Services (Alternative
Funds) Limited
EJFIcosec@apexgroup.com
+44 204 549 0721
For
the Brokers
Barclays Bank PLC
Dion Di Miceli / Stuart
Muress
BarclaysInvestmentCompanies@barclays.com
+44 20
7623 2323
Liberum Capital Limited
Darren Vickers
ejfinvestments@liberum.com
+44 203 100 2222
About EJF Investments Ltd
EJFI's objective is to provide
shareholders with attractive risk adjusted returns through regular
dividends and capital growth over the long term. EJFI generates
exposure primarily to a diversified portfolio of loans issued by
financial institutions and related or similar assets in the U.S.,
U.K. and Europe.
EJFI currently invests primarily in
CDO Equity Tranches structured by an affiliate of EJF Capital LLC,
providing levered exposure to a highly diversified portfolio of
securities issued by U.S. financial institutions (banks and
insurance companies), these being Risk Retention
Investments.
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.