Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 79

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 79
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 While we do not currently have plans to expand outside of the dry bulk shipping industry into other international shipping sectors, such as the containership industry, there can be no assurances that we will not do so in the future. The Separation and Distribution Agreement will restrict Costamare Inc. from acquiring or owning dry bulk vessels or a controlling interest in a business that owns such vessels without offering us the opportunity to acquire such dry bulk vessels. However, if we are not willing or able to acquire such dry bulk vessels from Costamare Inc. within the periods set forth in the Separation and Distribution Agreement, Costamare Inc. will thereafter be free to own, operate and charter such dry bulk vessels. Our ability to own containership vessels and to acquire or invest in a business that owns such vessels will not be restricted. Additionally, in the event Costamare Inc. enters the international dry bulk shipping industry or we enter the international containership shipping industry, conflicts of interest may arise from the following relationships:

| • | our affiliated managers have substantially similar contractual relationships with Costamare Inc. as they have with us, which does not include any restrictions on offering dry bulk or containership opportunities to Costamare Inc. before us or to us before Costamare Inc., |

| • | certain members of our board of directors and our management are also members of the board of directors or management of Costamare Inc., and |

| • | our major shareholders, Konstantinos Konstantakopoulos and members of his family, are also major shareholders of Costamare Inc. |

Additionally, Konstantinos Konstantakopoulos, our largest shareholder and the chief executive officer of Costamare Inc., and members of his family, who are also major shareholders of Costamare Inc., will not be

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**precluded from owning dry bulk vessels or from acquiring or investing in a business that owns such vessels. As such, Konstantinos Konstantakopoulos and/or members his family could own or have interests in vessels that are in direct competition with our vessels, which could harm our business or give rise to conflicts of interest.

Such potential conflicts of interest, as well as Costamare Inc.’s activity in the international dry bulk shipping industry, could have an adverse effect on the results of our operations.

Certain of our managers are permitted to, and are actively seeking to, provide management services to vessels owned by third parties that compete with us, which could result in conflicts of interest or otherwise adversely affect