Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 249

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 249
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 will generally depend upon the status of the partner and upon the activities of the partnership. If you are a partner in a partnership (or other entity treated as a partnership for U.S. Federal income tax purposes) holding our common shares, you should consult your tax advisor.

United States Federal Income Taxation of U.S. Holders

Consequences of the Spin-Off and Distribution of our Common Shares to U.S. Holders

Subject to the discussion below under “Consequences of the Spin-Off if Costamare Inc. is a PFIC” if you receive our ordinary shares in the Spin-off you will be treated as receiving a taxable dividend distribution to the extent of Costamare Inc.’s current and accumulated earnings and profits (as determined under U.S. Federal income tax principles), in an amount equal to the fair market value of our ordinary shares (in U.S. dollars) received on the distribution date. 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 be treated first as a nontaxable return of capital to the extent of your tax basis in your Costamare Inc. common shares (on a dollar-for-dollar basis) and thereafter as capital gain recognized on a sale or exchange of your Costamare Inc. common shares.

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 its current year earnings and profits will be calculated based on its income for the entire taxable year in which the distribution occurs. In addition to Costamare Inc.’s operating results for that year, which will not include the earnings and expenses of the Costamare Bulkers Holdings business after the separation, other factors that are not knowable at this time will affect Costamare Inc’s earnings and profits for the taxable year of the Spin-off. Those factors include the extent, if any, to which the value of Costamare Bulkers Holdings at the time of the Spin-off exceeds Costamare Inc.’s tax basis in Costamare Bulkers Holdings, resulting in recognition of a gain that will increase Costamare Inc.’s earnings and profits. Costamare Inc. currently intends to cause its shareholders to be provided with a determination of the portion of the distribution constituting a taxable dividend as soon as practicable after its earnings and profits for the taxable year in which the distribution occurs