Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 180

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 180
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 share repurchase plan and $0.2 million of common share repurchases due to tax withholding on vested shares; and

•net increase in additional paid-in capital of $2.0 million mainly due to share-based compensation of $2.0 million.

Please refer to "Notes to Consolidated Financial Statements - Note 6 — Shareholders' Equity" included under Item 8 "Financial Statements and Supplementary Data" of this Annual Report on Form 10-K for a discussion of the equity instruments issued by the Company at December 31, 2024 and 2023. 

Book value and diluted book value per common share at December 31, 2024 and 2023 were computed as follows: 

December 31, 20242023($ in thousands except share and per share data)Ending common shareholders’ equity$45,193 $249,160 Numerator for diluted book value per common share calculation$45,193 $249,160 Common shares outstanding99,039,253 100,472,120 Shares issued from assumed conversion of dilutive options and restricted shares2,035,634 975,027 Denominator for diluted book value per common share calculation101,074,887 101,447,147 Book value per common share$0.46 $2.48 Diluted book value per common share0.45 2.46 

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. During the year ended December 31, 2024, Maiden Reinsurance repurchased 1,871,755 common shares from the open market at an average price per share of $1.87 under the Company's share repurchase plan. (2023 - 1,439,575 common shares at an average price per share of $1.83). The Company's remaining authorization for common share repurchases is $68.1 million at December 31, 2024.

85

Please see "Notes to Consolidated Financial Statements - Note 6 — Shareholders' Equity" under Item 8 "Financial Statements and Supplementary Data" of this Annual Report on Form 10-K for further information on the repurchase transactions. Concurrent with its announcement on December 29, 2024 regarding its proposed combination with Kestrel, the Company has suspended its share