Company: CMDB
Filing Date: 2025-04-23
Form Type: 20FR12B/A
Source: 0001140361-25-015197
Chunk: 110

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-23
Form: 20FR12B/A
Chunk 110
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 Costamare Inc. Board in its sole and absolute discretion, and the determination by the Costamare Inc. Board regarding the satisfaction of these conditions will be conclusive. The fulfillment of these conditions will not create any obligation on Costamare Inc.’s part to effect the distribution and complete the spin-off, and Costamare Inc. has reserved the right to amend, modify or abandon any and all terms of the spin-off and the related transactions at any time prior to the distribution date, at the direction of the Costamare Inc. Board. Costamare Inc. does not intend to notify its shareholders of any modifications to the terms or the conditions to the spin-off that, in the judgment of the Costamare Inc. Board, are not material. To the extent that the Costamare Inc. Board determines that any such modifications materially change the terms and conditions of the spin-off, Costamare Inc. will notify its shareholders in a manner reasonably calculated to inform them of such modifications with a press release, current report on Form 6-K or other similar means. Tax Consequences of the Spin-off Material U.S. Federal Income Tax Consequences of the Spin-off The receipt of our shares by U.S. Holders (as defined in “Item 10. Additional Information—10.E. Tax Considerations—United States Federal Income Tax Considerations”) pursuant to the spin-off should be treated, for U.S. Federal income tax purposes, as a taxable distribution in an amount equal to the fair market value on the distribution date of our shares that are received. Subject to the PFIC rules discussed in “Item 10. Additional Information—10.E. Tax Considerations—United States Federal Income Tax Considerations – PFIC Status”, this distribution will be treated as a dividend to the extent of the current and accumulated earnings and profits of Costamare Inc., as determined for United States federal income tax purposes. To the extent that the amount of the distribution exceeds Costamare Inc.’s current and accumulated earnings and profits for the taxable year of the distribution, the distribution will first be treated as a tax-free return of capital, causing a reduction in the adjusted basis of the holder’s Costamare Inc. shares, and to the extent the amount of the distribution exceeds the holder’s adjusted tax basis, the excess will be treated as capital gain. Costamare Inc. will not be able to determine the amount of the distribution that will be treated as a dividend until after the close of the taxable year of the Spin-off because