REG - EJF Investments Ltd EJF Investments-EJFZ - Announcement of Final Results to 31 December 2025

EJF InvestmentsAnnouncement

26/03/2026 07:00

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RNS Number : 1568Y  EJF Investments Ltd  26 March 2026

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.

 

26 March 2026

 

EJF Investments Ltd

("EJFI" or the "Company")

Announcement of Final Results to 31 December 2025

EJFI, which primarily provides investors exposure to a diversified portfolio
of regulated debt issued by smaller U.S. banks and insurance companies, and
participation in certain management fee income streams of EJF Capital, today
announces the release of the Annual Report and Audited Financial Statements
for the year ended 31 December 2025.

Highlights

·      Total Return per ordinary share (excluding the impact of FX
losses), inclusive of dividends, of 12.09% for the year ended 31 December
2025;

·      Total Return per ordinary share, inclusive of dividends, of 4.94%
for the year ended 31 December 2025;

·      Total Return per ordinary share, inclusive of dividends, of
106.62% since inception to 31 December 2025;

·      NAV as at 31 December 2025 of £94.5 million, 163 pence per
ordinary share;

·      Share price discount to NAV as at 31 December 2025 of 24.2%; and

·      Dividend yield for the year ended 31 December 2025 based on
dividends declared in respect of the period and share price at 31 December
2025 of 8.8%.

John Kingston III, Chair of the Board of Directors of the Company said: "On
behalf of the Board, I am pleased to present the Annual Report for the year
ended 31 December 2025.

The Company's underlying portfolio continued to display increasing strength
during 2025, reflected in a Total Return (excluding the impact of FX losses)
of 12.09%. While the return profile of the underlying US Dollar denominated
assets continued to improve (in line with the Company's belief that there are
very compelling risk-adjusted returns in this asset class), overall
performance in 2025 was adversely impacted by the strong rally of Sterling
against the US Dollar primarily due to shifting rate expectations and the
continuing adverse currency effects of President Donald Trump's "Liberation
Day" tariffs.

Including FX losses, the Total Return for the Company on a Sterling basis was
4.94%. While the Manager hedges a portion of the Company's USD exposure to
reduce the impact of overall FX movements (at 31 December 2025, 47.1% of such
USD exposure was hedged), given the dimension of the movement, our currency
hedge was more than offset.  Across time, the Company has taken a relatively
neutral stance to currency, maintaining a Sterling covering hedge close to 50%
in more recent periods, which balances the dual needs of addressing the
Sterling denomination of the Company's Ordinary Shares and ZDP Shares and
minimising the inefficient deployment of cash for the FX hedges. The Manager
and the Board believe that while there will be currency losses across certain
periods (such as 2025), there will be gains in others, which will generally
offset over time and net to a neutral outcome, all of which will serve to
highlight the Manager's emphasis on maintaining the recurring double digit
total returns of the Company's underlying assets on a multi-year basis.

The strong cash flows produced by the Company's portfolio led the Board to
increase the Company's dividend for the fourth quarter of 2025 by 7%,
translating into a total dividend of 10.9p per Ordinary Share for 2025.

As a result of the strong recurring cash flows, and its belief that the return
of the portfolio will continue to strengthen, the Board was pleased to
announce an increased Dividend Target for FY 2026 of 11.45p per Ordinary
Share, which represents a 7% increase on the 2025 dividend target and a
dividend yield of 7.02% on the 31 December 2025 NAV per Ordinary Share."

Post Annual Report Update

·      In February 2026, the Company applied for an additional block
listing of 6,290,000 new 2029 ZDP Shares. As at the date of this announcement,
2,900,000 shares have been issued under this listing. At year end, 19,702,159
2029 ZDP shares were in issue. A further 4,899,434 have been issued post year
end, bringing the total to 24,601,593.

·      Dividend of 2.675 pence per ordinary share paid in February 2026
in respect of the quarter ended 31 December 2025; and

·      NAV as at 28 February 2026 of £94.6 million or 163 pence per
ordinary share, representing a year to date Total NAV return per ordinary
share of 1.96%.

 

 

The Company's Annual Report and Audited Financial Statements for the year
ended 31 December 2025 will shortly be available on the Company's website at:
www.ejfi.com/investors/?category=financial-reports&year=#filter  and the
National Storage Mechanism at:
https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism
(https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism)
.

 

A results presentation for analysts and institutional investors is scheduled
to take place on Monday, 30 March 2026 at 10:00am (BST) via a live webcast. To
access the live webcast, please register by contacting your usual
representative of Panmure Liberum. Webcast participants will be able to submit
questions via a Q&A facility during the webcast.

 

The results presentation slides will also be made available via the Company's
website at:
https://www.ejfi.com/investors/?category=financial-reports&year=#filter
(https://www.ejfi.com/investors/?category=financial-reports&year=#filter)
.

 

Additionally, Neal Wilson, Chief Executive Officer of the Investment Manager,
will make a live presentation of the Annual Results via Investor Meet Company
on Tuesday, 31 March at 10:00am (BST). The live presentation is open to all
existing and potential shareholders. Questions can be submitted pre-event via
the Investor Meet Company dashboard up until Monday, 30 March 9:00am (BST), or
at any time during the live presentation.

 

Investors can sign up to Investor Meet Company for free via:
https://www.investormeetcompany.com/ejf-investments-ltd/register-investor
(https://www.investormeetcompany.com/ejf-investments-ltd/register-investor)
.

 

Investors who already follow EJFI on the Investor Meet Company platform will
automatically be invited.

 

ENQUIRIES

 

For the Investment Manager

EJF Investments Manager LLC

Mungo Hargreaves / Jay Ghatalia

MHargreaves@ejfcap.com (mailto:MHargreaves@ejfcap.com) / jghatalia@ejfcap.com
(mailto:jghatalia@ejfcap.com)

+44 20 3752 6775 / +44 203 752 6776

 

For the Company Secretary and Administrator

Apex Financial Services (Alternative Funds) Limited ejficosec@apexgroup.com
(mailto:ejficosec@apexgroup.com)

+44 204 549 0721

 

For the Broker

Panmure Liberum Darren Vickers

ejfinvestments@panmureliberum.com (mailto:ejfinvestments@panmureliberum.com)

+44 203 100 2222

 

Barclays Bank PLC

Dion Di Miceli/Stuart Muress/James Atkinson
BarclaysInvestmentCompanies@barclays.com
(mailto: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 (http://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.

 

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