Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 254

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 254
---
 other shareholders whose shares were not “controlled shares” of the 9.5% U.S. Shareholder so long as such reallocation does not cause any person to become a 9.5% U.S. Shareholder.                                                                                                                                                       
 In addition, the Maiden bye-laws provide that any direct or indirect holder of shares shall give notice to Maiden within 10 days following the date that such holder acquires actual                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | ​ | ​ | Each Bermuda NewCo shareholder is entitled to one vote per share, subject to the Bermuda NewCo bye-laws.                                                                                
 The Bermuda NewCo bye-laws do not limit voting power to 9.5% of the votes conferred by Bermuda NewCo’s issued shares.                                                                   
 The Bermuda NewCo bye-laws, as of the date of this proxy statement/​prospectus, have been duly adopted and approved by each of Bermuda NewCo’s board of directors and sole shareholder. | ​ |

160

TABLE OF CONTENTS

| ​                                 | ​ | ​ | MAIDEN                                                                                                                                                                                                                                                                                                                                                                                                                                       | ​ | ​ | BERMUDA NEWCO                                            | ​ |
| ​                                 | ​ | ​ | knowledge that it is the direct or indirect holder of controlled shares of 9.5% or more of the voting power of all issued shares of Maiden.                                                                                                                                                                                                                                                                                                  | ​ | ​ | ​                                                        | ​ |
| Dividend and Other Payment Rights | ​ | ​ | Under Bermuda law, a company may pay dividends on its issued and outstanding shares in accordance with the company’s bye-laws and the rights attaching to the company’s shares. Dividends may be declared by a company’s board of directors, out of any funds of the company legally available for the payment of such dividends, subject to any preferred dividend right of any holders of any preference shares from time to time.         
 Under the Bermuda Companies Act, a company shall not declare or pay a dividend or make a distribution out of contributed surplus if there are reasonable grounds for believing that: (i) the company is or would, after the payment be, unable to pay its liabilities as they become due; or (ii) the realizable value of the company’s assets would thereby be less than its liabilities.                                                   
 Subject to the Maiden bye-laws and in accordance with the Bermuda Companies Act, the Maiden board may declare a dividend to be paid to the Maiden shareholders, in proportion to the number of shares held by them, and such dividend may be paid in cash or wholly or