TIDMEJFI TIDMEJFZ
RNS Number : 4706A
EJF Investments Ltd
29 May 2019
FOR IMMEDIATE RELEASE
29 May 2019
EJF INVESTMENTS LTD
Notification of transactions by directors, persons discharging
managerial responsibilities and persons closely associated with
them
EJF Investments Ltd. ("EJFI" or the "Company") announces that on
28 May 2019 (the "Notification Date") the Company procured (as
agent for the Manager (as defined below) and not as principal) the
transfer of 390,286 ordinary shares of no par value in the Company
("Ordinary Shares") at an average price of 190 pence per share
(together, the "2018 Incentive Shares") to EJF Investments Manager
LLC (the "Manager"), the Company's investment manager.
This transaction and the transaction that occurred on 28
February 2019 are in full satisfaction of the incentive fee payable
by the Company to the Manager for the incentive fee period ending
31 December 2018, in accordance with the terms of the management
agreement (as amended from time to time) between (among other
persons) the Company and the Manager (the "Management
Agreement").
The Manager is a "person discharging managerial
responsibilities" (a "PDMR") for the purposes of Regulation (EU) No
596/2014 on Market Abuse ("MAR").
The Company was also notified on the Notification Date that on
the same date the Manager allocated and distributed the 2018
Incentive Shares to certain of its officers and affiliates in the
proportions set out below, in each case for nil consideration (the
"Allocations"). The Allocations have been made by the Manager in
accordance with its own incentive plan.
The Company was also notified on the Notification Date that on
the same date, as a consequence of the Allocations:
-- Neal J. Wilson, the Chief Executive Officer of the Manager, a
non-executive director of the Company and a PDMR for the purposes
of MAR, acquired 78,058 Ordinary Shares from the Manager;
-- Lindsay J. Sparacino, the Co-Chief Investment Officer of the
Manager and a PDMR for the purposes of MAR, acquired 39,029
Ordinary Shares from the Manager;
-- Peter A. Stage, the Chief Financial Officer of the Manager
and a PDMR for the purposes of MAR, acquired 39,029 Ordinary Shares
from the Manager;
-- Hammad W. Khan, the Senior Managing Director, Europe, of the
Manager and a PDMR for the purposes of MAR, acquired 39,029
Ordinary Shares from the Manager; and
-- EJF Capital Limited, a wholly-owned subsidiary of EJF Capital
LLC and a "person closely associated" with the Manager for the
purposes of MAR, acquired 195,141 Ordinary Shares from the
Manager.
Each of Mr Wilson, Ms Sparacino, Mr Stage, Mr Khan and EJF
Capital Limited have previously entered into deeds of adherence to
the lock-in deed applicable to the Manager and, therefore, the
Ordinary Shares acquired by them as set out above are subject to
the restrictions set out in such lock-in deed (including, among
others, a restriction on transferring any Ordinary Shares received
by the Manager pursuant to the Management Agreement for a period of
six months following the date on which the Manager receives any
such Ordinary Shares).
Following settlement of all of these transactions:
-- the Manager is interested in 375,000 zero dividend preference
shares with a redemption date in 2022, representing approximately
2.5% of the issued shares in that class of shares in the capital of
the Company;
-- Mr Wilson is interested in 1,408,070 Ordinary Shares,
representing approximately 2.19% of the issued shares in that class
of shares in the capital of the Company, and 375,000 zero dividend
preference shares with a redemption date in 2022, representing
approximately 2.5% of the issued shares in that class of shares in
the capital of the Company;
-- Ms Sparacino is interested in 136,992 Ordinary Shares,
representing approximately 0.21% of the issued shares in that class
of shares in the capital of the Company;
-- Mr Stage is interested in 113,157 Ordinary Shares,
representing approximately 0.18% of the issued shares in that class
of shares in the capital of the Company;
-- Mr Khan is interested in 113,157 Ordinary Shares,
representing approximately 0.18% of the issued shares in that class
of shares in the capital of the Company; and
-- EJF Capital Limited is interested in 565,774 Ordinary Shares,
representing approximately 0.88% of the issued shares in that class
of shares in the capital of the Company.
Shares in the capital of the Company held in treasury have not
been taken into account in the calculation of the above
percentages.
The notifications below, made in accordance with the
requirements of MAR, provide further detail in relation to the
above transactions:
1 Details of the person discharging managerial responsibilities
/ person closely associated
(a) Name EJF Investments Manager LLC
---------------------------------------- ------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
(a) Position/status The Company's investment manager
---------------------------------------- ------------------------------------
(b) Initial notification/Amendment Initial notification
---------------------------------------- ------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
(a) Name EJF Investments Ltd
---------------------------------------- ------------------------------------
(b) LEI 549300XZYEQCLA1ZAT25
---------------------------------------- ------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------------
(a) Description of financial Ordinary shares of no par value
instrument, type of
instrument
JE00BF0D1M25
Identification code
---------------------------------------- ------------------------------------
(b) Nature of the transaction Purchase of Ordinary Shares
---------------------------------------- ------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
---------------------------------------- ----------------- -----------------
GBP1.90 390,286
---------------------------------------------------------------- -----------------
(d) Aggregate information
* Aggregated volume 390,286
GBP741,543.40
* Price
---------------------------------------- ------------------------------------
(e) Date of transaction 28 May 2019
---------------------------------------- ------------------------------------
(f) Place of transaction On-market
---------------------------------------- ------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
(a) Name Neal J. Wilson
---------------------------------------- -----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------
(a) Position/status Non-executive director of the Company
and Chief Executive Officer of the Manager
---------------------------------------- -----------------------------------------------
(b) Initial notification/Amendment Initial notification
---------------------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
(a) Name EJF Investments Ltd
---------------------------------------- -----------------------------------------------
(b) LEI 549300XZYEQCLA1ZAT25
---------------------------------------- -----------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------------------
(a) Description of financial Ordinary shares of no par value
instrument, type of
instrument
JE00BF0D1M25
Identification code
---------------------------------------- -----------------------------------------------
(b) Nature of the transaction Transfer of Ordinary Shares
---------------------------------------- -----------------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
---------------------------------------- ----------------------- ----------------------
GBP0.00 78,058
---------------------------------------------------------------------- ----------------------
(d) Aggregate information
* Aggregated volume 78,058
GBP0.00
* Price
---------------------------------------- -----------------------------------------------
(e) Date of transaction 28 May 2019
---------------------------------------- -----------------------------------------------
(f) Place of transaction On-market
---------------------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
(a) Name Lindsay Sparacino
---------------------------------------- ----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------
(a) Position/status Co-Chief Investment Officer of the Manager
---------------------------------------- ----------------------------------------------
(b) Initial notification/Amendment Initial notification
---------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
(a) Name EJF Investments Ltd
---------------------------------------- ----------------------------------------------
(b) LEI 549300XZYEQCLA1ZAT25
---------------------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------------------
(a) Description of financial Ordinary shares of no par value
instrument, type of
instrument
JE00BF0D1M25
Identification code
---------------------------------------- ----------------------------------------------
(b) Nature of the transaction Transfer of Ordinary Shares
---------------------------------------- ----------------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
---------------------------------------- ---------------------- ----------------------
GBP0.00 39,029
--------------------------------------------------------------------- ----------------------
(d) Aggregate information
* Aggregated volume 39,029
GBP0.00
* Price
---------------------------------------- ----------------------------------------------
(e) Date of transaction 28 May 2019
---------------------------------------- ----------------------------------------------
(f) Place of transaction On-market
---------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
(a) Name Peter Stage
---------------------------------------- ------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
(a) Position/status Chief Financial Officer of the Manager
---------------------------------------- ------------------------------------------
(b) Initial notification/Amendment Initial notification
---------------------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
(a) Name EJF Investments Ltd
---------------------------------------- ------------------------------------------
(b) LEI 549300XZYEQCLA1ZAT25
---------------------------------------- ------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
(a) Description of financial Ordinary shares of no par value
instrument, type of
instrument
JE00BF0D1M25
Identification code
---------------------------------------- ------------------------------------------
(b) Nature of the transaction Transfer of Ordinary Shares
---------------------------------------- ------------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
---------------------------------------- -------------------- --------------------
GBP0.00 39,029
------------------------------------------------------------------- --------------------
(d) Aggregate information
* Aggregated volume 39,029
GBP0.00
* Price
---------------------------------------- ------------------------------------------
(e) Date of transaction 28 May 2019
---------------------------------------- ------------------------------------------
(f) Place of transaction On-market
---------------------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
(a) Name Hammad W. Khan
---------------------------------------- ----------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------
(a) Position/status Senior Managing Director, Europe, of
the Manager
---------------------------------------- ----------------------------------------
(b) Initial notification/Amendment Initial notification
---------------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
(a) Name EJF Investments Ltd
---------------------------------------- ----------------------------------------
(b) LEI 549300XZYEQCLA1ZAT25
---------------------------------------- ----------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------------
(a) Description of financial Ordinary shares of no par value
instrument, type of
instrument
JE00BF0D1M25
Identification code
---------------------------------------- ----------------------------------------
(b) Nature of the transaction Transfer of Ordinary Shares
---------------------------------------- ----------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
---------------------------------------- ------------------- -------------------
GBP0.00 39,029
------------------------------------------------------------------ -------------------
(d) Aggregate information
* Aggregated volume 39,029
GBP0.00
* Price
---------------------------------------- ----------------------------------------
(e) Date of transaction 28 May 2019
---------------------------------------- ----------------------------------------
(f) Place of transaction On-market
---------------------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
(a) Name EJF Capital Limited
---------------------------------------- --------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
(a) Position/status A wholly-owned subsidiary of EJF Capital
LLC
---------------------------------------- --------------------------------------------
(b) Initial notification/Amendment Initial notification
---------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
(a) Name EJF Investments Ltd
---------------------------------------- --------------------------------------------
(b) LEI 549300XZYEQCLA1ZAT25
---------------------------------------- --------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
(a) Description of financial Ordinary shares of no par value
instrument, type of
instrument
JE00BF0D1M25
Identification code
---------------------------------------- --------------------------------------------
(b) Nature of the transaction Transfer of Ordinary Shares
---------------------------------------- --------------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
---------------------------------------- --------------------- ---------------------
GBP0.00 195,141
-------------------------------------------------------------------- ---------------------
(d) Aggregate information
* Aggregated volume 195,141
GBP0.00
* Price
---------------------------------------- --------------------------------------------
(e) Date of transaction 28 May 2019
---------------------------------------- --------------------------------------------
(f) Place of transaction On-market
---------------------------------------- --------------------------------------------
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 1481 750 822
For the Broker
Numis Securities Limited
David Luck
d.luck@numis.com
+44 20 7260 1301
About EJF Investments Ltd
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHKKLBLKEFXBBL
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