Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 165

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 165
---
262,361 $177,010 

 24

MAIDEN HOLDINGS, LTD. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(in thousands of U.S. dollars, except share and per share data)

6. Shareholders' Equity

a)Common SharesOn May 3, 2023 at its Annual General Meeting of Shareholders, the Company's common shareholders approved the increase in the authorized share capital of the Company from $1,500 divided into 150,000,000 shares of par value $0.01 each, to $2,000 divided into 200,000,000 shares of par value $0.01 each.At March 31, 2025, the aggregate authorized share capital of the Company is 200,000,000 shares from which 151,310,133 common shares were issued, of which 99,682,710 common shares are outstanding, and 51,627,423 shares are treasury shares (please see Note 6. (b) Treasury Shares below for additional information). The remaining 48,689,867 shares are undesignated at March 31, 2025. At March 31, 2025, 1,024,299 common shares will be issued and outstanding upon vesting of restricted shares, and 1,291,729 common shares remaining are reserved for issuance under the 2019 Omnibus Incentive Plan.b)Treasury SharesOn February 21, 2017, the Company's Board of Directors approved the repurchase of up to $100,000 of the Company's common shares from time to time at market prices. During the three months ended March 31, 2025, Maiden Reinsurance did not repurchase any common shares under the Company's share repurchase plan (March 31, 2024: 352,111 common shares at an average price of $1.91 per share). The Company's remaining authorization is $68,107 for common share repurchases at March 31, 2025 (December 31, 2024: $68,107). During the three months ended March 31, 2025, the Company repurchased 367,878 common shares (2024: 127,555) at an average price per share of $0.80 (2024: $1.79) from employees, which represent tax withholding in respect of tax obligations on the vesting of non-performance-based restricted