Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 7

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 7
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 proxy statement/prospectus is a part;

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“Bermuda NewCo equity plan proposal” means the proposal to approve the Bermuda NewCo equity plan;

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TABLE OF CONTENTS

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“Bermuda NewCo memorandum of association” means the memorandum of association and certificate of deposit of memorandum of increase of share capital of Bermuda NewCo, which are included as Exhibit 3.2 to the registration statement of which this proxy statement/prospectus is a part;

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“closing” means the closing of the transaction;

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“Code” means the U.S. Internal Revenue Code of 1986, as amended;

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“combination” refers collectively to the Kestrel contribution and the mergers;

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“combination agreement” means the Combination Agreement, dated as of December 29, 2024, by and among Kestrel, the Kestrel equityholders, Maiden, US NewCo, Merger Sub I, Bermuda NewCo and Merger Sub II, as amended by the Letter Agreement, dated February 17, 2025, by and among Kestrel, the Kestrel equityholders, Maiden, US NewCo, Merger Sub I, Bermuda NewCo and Merger Sub II, and the Letter Agreement, dated March 24, 2025, by and among Kestrel, the Kestrel equityholders, Maiden, US NewCo, Merger Sub I, Bermuda NewCo and Merger Sub II, and as it may be further amended from time to time;

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“combined company” refers collectively to Bermuda NewCo and its subsidiaries, including Maiden and Kestrel, following completion of the combination;

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“Exchange Act” means the Securities Exchange Act of 1934, as amended;

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“paying agent” means Equiniti Trust Company, LLC (or such other bank or trust company reasonably acceptable to Maiden and Kestrel);

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“first merger” means the merger through which Merger Sub I merges with and into Maiden, with Maiden surviving the merger as a direct wholly owned subsidiary of US NewCo;

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“first merger approval bye-law proposal” means the proposal to approve the amendment to Bye-Law 87 of the Maiden bye-laws;

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“first merger effective time” means the effective time of the first merger;

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“first merger resolution” means the proposal to approve the Statutory Merger Agreement and the first merger, pursuant to and in accordance with the terms of the combination agreement and the Statutory