Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 35

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 35
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 the required filings and notifications to the aforementioned regulator as part of the process to obtain the necessary regulatory clearances.

The transaction cannot be completed until after the applicable waiting periods have expired or the relevant approvals or non-disapprovals have been obtained under the (i) antitrust and competition laws, (ii) insurance laws and regulations and (iii) foreign direct investment laws of the jurisdictions listed above.

#### Combination Agreement — No Solicitation (Page122)
Maiden has agreed to immediately cease any solicitation, encouragement discussions or negotiations with any parties that may have been ongoing with respect to a Takeover Proposal (as defined below), and promptly take all steps necessary (to the extent reasonably possible) to terminate any approval under any confidentiality, “standstill” or similar obligation previously given by Maiden to any person to make a Takeover Proposal.

Notwithstanding these restrictions, the combination agreement provides that, prior to obtaining the approval by the Maiden shareholders of the first merger resolution, under specific circumstances (including that Maiden has not breached the provisions in the combination agreement pertaining to a Takeover Proposal other than a breach that is immaterial in scope and effect), Maiden may contact such person or group making the Takeover Proposal and engage in discussions to clarify the terms and conditions thereof,

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or to request that any Takeover Proposal made orally be made in writing, and may furnish pursuant thereto information (including non-public information) and afford access to the business, properties, assets, books or records of Maiden, and provide information to, and engage in discussions and negotiations with, third parties in response to an unsolicited Takeover Proposal that the Maiden board has determined in good faith, after consultation with its financial advisor and outside legal counsel, constitutes or which is reasonably expected to lead to a Superior Proposal (as defined below) and failure to take the following action or actions would be inconsistent with the directors’ fiduciary duties under applicable law. Prior to furnishing any nonpublic information to or engaging in such discussions or negotiations with a third party, Maiden must enter into an Acceptable Confidentiality Agreement (as defined below).

The combination agreement generally restricts the ability of the Maiden board from withdrawing its recommendation that its shareholders adopt the combination agreement. However, the Maiden board may withdraw its recommendation (i) in circumstances not involving or relating to a Takeover Proposal, if the Maiden board concludes in good faith, after consultation with its financial advisors and outside legal counsel, that failure to take such action