EJF Investments : PDMR Dealings

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 UNITED KINGDOM AND THE REPUBLIC OF IRELAND), AUSTRALIA, CANADA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

30 December 2019

EJF INVESTMENTS LTD

PDMR Dealings

EJF Investments Ltd ("EJFI" or the "Company") announces that, in accordance with its Dealing Code, Cheetah Holdings Ltd., a charitable foundation co-founded by Emanuel J. Friedman, the Co-Chief Investment Officer of EJF Investments Manager LLC, the Company's Investment Manager, acquired 250,000 ordinary shares in the Company at a price of £1.716 per share through secondary dealings on the London Stock Exchange.

Mr. Friedman is a "person discharging managerial responsibilities" for the purposes of Regulation (EU) No 596/2014 on Market Abuse ("MAR").

Following settlement of this transaction, Cheetah Holdings Ltd. is interested in 11,552,344 ordinary shares, representing approximately 18% of the issued shares in that class of shares in the capital of the Company.

The notification below, made in accordance with the requirements of MAR, provides further detail in relation to the above transaction:

1	Details of the person discharging managerial responsibilities / person closely associated
(a)	Name			Cheetah Holdings Ltd.
2	Reason for the notification
(a)	Position/status			Cheetah Holdings Ltd. is a charitable foundation co-founded
				by Emanuel J. Friedman, the Co-Chief Investment Officer of
				EJF Investments Manager LLC, the Company's Investment
				Manager, and is therefore a person closely associated with a
				PDMR
(b)	Initial			Initial notification
	notification/Amendment
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

	Identification code		JE00BF0D1M25
(b)	Nature of the transaction	Purchase of Ordinary Shares
(c)	Price(s) and volume(s)	Price(s)		Volume(s)
					£1.716		57,874
(d)	Aggregate information
	∙	Aggregated volume	57,874
	∙	Price			£99,311.91
(e)	Date of transaction		23 December 2019
(f)	Place of transaction		London Stock Exchange, main market (XLON)
(a)	Description	of	financial	Ordinary shares of no par value
	instrument, type of instrument
	Identification code		JE00BF0D1M25
(b)	Nature of the transaction	Purchase of Ordinary Shares
(c)	Price(s) and volume(s)	Price(s)		Volume(s)
					£1.716		192,126
(d)	Aggregate information
	∙	Aggregated volume	192,126
	∙	Price			£329,686.33
(e)	Date of transaction		24 December 2019
(f)	Place of transaction		London Stock Exchange, main market (XLON)

ENQUIRIES

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Hammad Khan / Matt Gill

[e-mail] / [e-mail] / [e-mail] [phone] / [phone] / [phone]

For the Company Secretary and Administrator BNP Paribas Securities Services S.C.A Jersey Branch [e-mail]

[phone] / [phone]

For the Broker

Numis Securities Limited David Luck [e-mail] [phone]

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.