Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 224

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 224
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 provide for the separation of the assets, liabilities and obligations of Costamare Inc. and its subsidiaries that hold its dry bulk related businesses and are attributable to periods prior to, at and after the separation. Transfer of Assets and Assumption of Liabilities . The Separation and Distribution Agreement will identify the assets to be transferred, liabilities to be assumed and contracts to be assigned to each of us and Costamare Inc. as part of the Restructuring Transactions to be effected prior to and promptly after the distribution, the purpose of which is to, ensure that, promptly after the distribution, each of us and Costamare Inc. holds the assets which it requires to operate, in our case, the dry bulk related businesses and, in the case of Costamare Inc., the businesses retained by Costamare Inc., and retains or assumes (as applicable) liabilities, including pending and future claims, which primarily relate to such business or such assets (whether arising prior to, at or after the date of execution of the Separation and Distribution Agreement). In particular, the Separation and Distribution Agreement will provide for the CBI Share Purchase and the transfer of any related assets and liabilities. The Separation and Distribution Agreement will provide for when and how such transfers, assumptions and assignments will occur (to the extent that such transfers, assumptions and assignments have not already occurred prior to the parties’ entry into the Separation and Distribution Agreement). The Separation and Distribution Agreement will further set forth the basis on which individual assets and liabilities (or any part thereof), the transfer of which is subject to a third-party consent or notification which has not been obtained or if the transfer thereof cannot for regulatory reasons occur by the date on which implementation of the separation occurs, will continue to be held by the relevant transferor for the use, benefit or burden of, and at the cost of, the relevant transferee. Conditions . The Separation and Distribution Agreement will also provide that several conditions must be satisfied, or waived by Costamare Inc. before the spin-off can occur. For further information about these conditions, see “Item 4. Information on the Company—4.A. History and Development of the Company—The Spin-Off—Conditions to the Spin-Off”. The Distribution . The Separation and Distribution Agreement will govern the rights and obligations of the parties with respect to the distribution and certain actions that must occur prior to the distribution. Costamare Inc. will have sole and absolute discretion, to determine whether, when and on what basis to proceed with all