Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 319

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 2
Chunk 319
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 translation adjustment of $0.1 million in the three months ended March 31, 2025 due to the impact of significant depreciation of the U.S. dollar on the re-measurement of net assets denominated in British pound and euro; and

•treasury shares increased by $0.3 million due to common share repurchases of $0.3 million which represent tax withholding in respect of tax obligations on the vesting of non-performance-based restricted shares. 

Please refer to "Notes to Consolidated Financial Statements Note 6. Shareholders' Equity" included under Part II Item 8. "Financial Statements and  Supplementary Data" of our Annual Report on Form 10-K for a discussion of the equity instruments issued by the Company as at December 31, 2024. 

Book value and diluted book value per common share at March 31, 2025 and December 31, 2024 were as follows: 

($ in thousands except share and per share data)March 31, 2025December 31, 2024Ending common shareholders’ equity$37,573 $45,193 Numerator for diluted book value per common share calculation$37,573 $45,193 Common shares outstanding99,682,710 99,039,253 Shares issued from assumed conversion of dilutive options and restricted shares1,024,299 2,035,634 Denominator for diluted book value per common share calculation100,707,009 101,074,887 Book value per common share$0.38 $0.46 Diluted book value per common share0.37 0.45 

Common Shares

On February 21, 2017, the Company's Board of Directors approved the repurchase of up to $100.0 million of the Company's common shares from time to time at market prices. The Company adopted a Rule 10b5-1(c)(1) trading arrangement as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended. On March 20, 2024, an amendment was made to the agreement initially signed on September 29, 2023 between Maiden Holdings and a financial intermediary authorizing the intermediary to purchase common shares from October 30, 2023 until the close of business on September 29, 2024, subject to certain conditions set forth in the agreement. The Company has fulfilled the repurchases under its current