Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 102

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 102
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 of Bermuda NewCo, pursuant to and in accordance with the terms of the combination agreement and the Statutory Merger Agreement;

•

to approve the adjournment proposal, being the proposal to authorize the adjournment of the special meeting by Maiden to permit further solicitation of proxies if a quorum is present and sufficient votes are not represented at the special meeting to approve the first merger resolution or to ensure that any supplement or amendment to the proxy statement/prospectus is timely provided to Maiden shareholders;

•

to approve the Bermuda NewCo equity plan proposal, being the proposal to approve the equity incentive plan for service providers of Bermuda NewCo and its subsidiaries; and

•

to approve the advisory vote on merger-related compensation proposal, being the proposal to approve, by a non-binding, advisory vote, the compensation that may be paid or become payable to Maiden’s named executive officers in connection with the mergers.

#### Recommendation of the Maiden Board
The Maiden board, with two directors having declared their interest in the transaction and recused themselves from voting, has unanimously (i) approved the combination agreement, each ancillary agreement to which Maiden is or will be a party and the transaction, (ii) approved the voting cutback proposal and the first merger approval bye-law proposal, (iii) determined that the transaction (including the first merger) is in the best interests of Maiden and fair to the Maiden shareholders, (iv) determined that the consideration payable to the holders of Maiden shares in connection with the first merger constitutes fair value for each Maiden share in accordance with the Bermuda Companies Act and (v) resolved to recommend and submit to the Maiden shareholders for approval at the Maiden special meeting the first merger approval bye-law proposal and the first merger resolution.

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**TABLE OF CONTENTS

The Maiden board unanimously recommends that Maiden shareholders vote:**

#### “FOR” the voting cutback proposal;

#### “FOR” the first merger approval bye-law proposal;

#### “FOR” the first merger resolution;

#### “FOR” the adjournment proposal;

#### “FOR” the Bermuda NewCo equity plan proposal; and
“FOR” the advisory vote on merger-related compensation proposal.

See “The Transaction — Maiden’s Reasons for the Transaction” beginning on page 82.

Maiden shareholders should carefully read this proxy statement/prospectus in its entirety for more detailed information concerning the combination agreement, the transaction and the compensation that may be paid or become payable to Maiden’s named executive officers in connection with the mergers. In addition,