Company: CMDB
Filing Date: 2025-04-23
Form Type: 20FR12B/A
Source: 0001140361-25-015197
Chunk: 60

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-23
Form: 20FR12B/A
Chunk 60
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 other than from surplus (retained earnings and the excess of consideration received for the sale of shares above the par value of the shares) or if there is no surplus, from the net profits for the current and prior fiscal year, or while a company is insolvent or if it would be rendered insolvent by the payment of such a dividend. We may not have sufficient surplus or net profits in the future to pay dividends, and our subsidiaries may not have sufficient funds, surplus or net profits to make distributions to us. As a result of these and other factors, we may pay dividends during periods when we record losses and may not pay dividends during periods when we record net income. We can give no assurance that dividends will be paid in the future or the amounts of dividends which may be paid. Our credit facilities and/or other future financing arrangements contain or may contain payment obligations and restrictive covenants that may limit our liquidity and our ability to expand our fleet. A failure by us to meet our obligations under these credit facilities could result in an event of default under such credit facilities and foreclosure on our vessels. In connection with the spin-off, we have entered into credit facilities and may enter into additional credit facilities or other financing arrangements with respect to our dry bulk related businesses. Our credit facilities impose certain operating and financial restrictions on us and require us to be in compliance with certain financial covenants. The operating and financial restrictions generally

| (1) | limit our ability to, among other things: |

| • | pay dividends if an event of default has occurred and is continuing or would occur as a result of the payment of such dividends; |

| • | allow the vessel-owning subsidiaries to cease being, directly or indirectly, our wholly owned subsidiaries; |

| • | sell or transfer significant assets; or |

| • | allow the Konstantakopoulos family’s direct or indirect holding in us to fall below 30% of the total issued share capital; and |

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| (2) | limit the ability of our applicable financed vessel-owning subsidiaries to, among other things: |

| • | pay dividends if an event of default has occurred and is continuing or would occur as a result of the payment of such dividends; |

| • | sell or transfer any of their assets, unless the relevant financing obligation is prepaid; |

| • | make or repay loans or advances, other than repayment of the credit facilities; |

| • | make investments in other persons; or |

| • | create li