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EJF Investments Ltd (EJFI) announced on 18 December 2024 that all resolutions put to its Extraordinary General Meeting (EGM), held on 17 December 2024, were passed by shareholders. Shareholders authorized EJFI to make market purchases of Ordinary Shares until 11 December 2029, with 41,586,263 votes (99.92%) cast in favour from a total of 41,620,357 proxy votes noted. Additionally, authority was granted to the directors to allot and issue up to 28 million 2029 ZDP Shares until the conclusion of the 2026 annual general meeting, supported by 41,548,061 votes (99.89%).
| Date | 18 Dec 2024 |
| Time | 07:00:04 |
| Category | AGMs and other meetings |
| ID | 4825Q |
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.
18 December 2024
EJF Investments Ltd
("EJFI" or the "Company")
Results of EGM
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 all resolutions put to an Extraordinary General Meeting held yesterday, 17 December 2024, at the registered office of the Company were duly passed by the shareholders.
Total proxy votes of 41,620,357 were noted at the Extraordinary General Meeting. Details of the proxy votes noted in respect of each resolution are set out below:
|
Summary Resolutions1 |
For / Discretion2 |
% |
Against |
% |
Withheld |
|
1. Special Resolution: That in addition to any existing authorities, the Company be and is hereby generally and unconditionally authorised to make market purchases of Ordinary Shares once in each 12-month period commencing on the date of the EGM and ending close of business on 11 December 2029, pursuant to the Liquidity Option described and, inter alia, on the terms and conditions set out in the Circular.
|
41,586,263 |
99.92 |
34,094 |
0.08 |
0 |
|
2. Special Resolution: That the directors of the Company be and are hereby generally and unconditionally authorised to allot and issue an aggregate of up to 28 million 2029 ZDP Shares on such terms, in whatever currency and at whatever price they may determine in connection with the ZDP Placing detailed in the Circular, such authority to apply until the conclusion of the 2026 annual general meeting of the Company unless previously renewed, varied or revoked by the Company in a general meeting, save that the Company may, at any time prior to the expiry of such authority, make an offer or enter into an agreement which would or might require the allotment of 2029 ZDP Shares in pursuance of such an offer or agreement as if such authority had not expired. |
41,548,061 |
99.89 |
46,401 |
0.11 |
25,895 |
1. The full text of the resolutions may be found in the notice of the Extraordinary General Meeting, a copy of which is available on both the Company's website https://www.ejfi.com/rns-announcements/ and on the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
2. Any proxy appointments which gave discretion to the Chair, or a third party were voted for the resolution.
In accordance with Listing Rule 9.6.2, the full text of the special resolutions passed at the Extraordinary General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
ENQUIRIES
For the Investment 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 Broker
Panmure Liberum
Darren Vickers
ejfinvestments@panmureliberum.com
+44 203 100 2222
Barclays Bank PLC
Dion Di Miceli/Stuart Muress
BarclaysInvestmentCompanies@barclays.com
+44 207 623 2323
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.