Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 165

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 165
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144, or as otherwise permitted under the Securities Act. We are unable to estimate the number of shares that will be sold under Rule 144 since this will depend on the market price for our common shares, the personal circumstances of the shareholder and other factors. Persons who may be deemed affiliates of Bermuda NewCo generally include individuals or entities that control, are controlled by, or are under common control with, Bermuda NewCo and may include Bermuda NewCo’s directors, executive officers and principal shareholders.

Name Change and Listing of Common Shares on Nasdaq

Each of Bermuda NewCo and Maiden have agreed to use reasonable best efforts to take, or cause to be taken, all actions, and to do or cause to be done all things, necessary, proper or advisable under applicable laws and the rules and policies of Nasdaq and the SEC to enable the listing of the Bermuda NewCo common shares to be issued in connection with the second merger (and as a result thereof, the first merger and the Kestrel contribution) on Nasdaq no later than the second merger effective time, subject to official notice of issuance. Immediately following the closing, Bermuda NewCo’s name will be changed to “Kestrel Group Ltd” and the common shares of Kestrel Group Ltd will be listed on the Nasdaq under the ticker symbol “KG.”

#### Delisting and Deregistration of Maiden Shares
Maiden has agreed to use reasonable best efforts to take, or cause to be taken, all actions, and to do or cause to be done all things, necessary, proper or advisable under applicable laws and the rules and policies of Nasdaq and the SEC, to cause Maiden shares to be de-listed from Nasdaq and de-registered under the Exchange Act as soon as reasonably practicable following the first merger effective time.

#### Treatment of Existing Maiden Indebtedness
Pursuant to the terms of Maiden and its subsidiaries’ existing indentures and debt securities, the outstanding debt securities of Maiden and its subsidiaries will not be required to be redeemed or repaid upon the closing. In connection with the closing, Bermuda NewCo will guarantee all of Maiden and its subsidiaries’ rights and obligations under Maiden and its subsidiaries’ indentures and outstanding debt securities.

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#### Transaction Expenses, Fees and Costs
If the closing does not occur, all fees and expenses incurred by the parties are to be paid by the party that has incurred such fees and expenses. If the transaction is consummated, each party’s