Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 81

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 81
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 to CBI. Local Agency A, Local Agency B and Local Agency D are controlled by our largest shareholder, Konstantinos Konstantakopoulos. Local Agency C is controlled by our chief executive officer, Gregory Zikos. On December 16, 2024, the Agency Agreements were amended and restated to allow each Local Agency to provide its services to any dry bulk subsidiary of Costamare Inc., in addition to CBI. CBI may also charter out its vessels to Local Agency C. CBI provides a tax indemnity under a deed (the “Tax Indemnity Deed”) to Local Agency C with respect to certain disputes with local tax authorities.. Our chief commercial officer, Jens Jacobsen, is the managing director of Local Agency B. The terms of the Framework Agreement, the Services Agreement, the separate ship management agreements and the Agency Agreements were set before the spin-off by Costamare Inc. and have not been negotiated at arm’s length by non-related third parties. Accordingly, the terms may be less favorable to us than if such terms were obtained from a non-related third party. Additionally, following the spin-off and the completion of the Restructuring Transactions, Konstantinos Konstantakopoulos, our largest shareholder, will own approximately 28.6% of our common shares, and this relationship could create conflicts of interest between us, on the one hand, and our affiliated managers or three of our agencies, on the other hand. These conflicts, which are addressed in the Framework Agreement, the Services Agreement, the separate ship management agreements and Agency Agreements, may arise in connection with the chartering, purchase, sale and operation of the vessels in our fleet versus vessels owned or chartered-in by other companies, including companies affiliated with our largest shareholder. These conflicts of interest may have an adverse effect on our results of operations. See “Item 4. Information on the Company—4.B. Business Overview—Management of Our Fleet” and “Item 7. Major Shareholders and Related Party Transactions—7.B. Related Party Transactions”. Costamare Inc. may compete in the international dry bulk shipping industry, and we may compete in the international containership shipping industry. There can be no assurances that we will remain a “pure-play” dry bulk shipping company moving forward. The spin-off will result in a “pure-play” international dry bulk shipping company. Following the spin-off and the completion of the Restructuring Transactions, Costamare Bulkers Holdings will own only dry bulk vessels