Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 173

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 173
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 United States (and, if required by an applicable income tax treaty, attributable to a U.S. permanent establishment or fixed base maintained by such Non-U.S. Holder), in which case such gain will be subject to U.S. federal income tax, net of certain deductions, at the same graduated individual or corporate rates applicable to United States persons (as defined in the Code), and any such gain of a Non-U.S. Holder that is a corporation may be subject to an additional “branch profits tax” at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty); or

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Bermuda NewCo is or has been a U.S. real property holding corporation at any time during the shorter of the five-year period preceding such disposition and such Non-U.S. Holder’s holding period and either (A) Bermuda NewCo common shares have ceased to be regularly traded on an established securities market or (B) such Non-U.S. Holder has owned or is deemed to have owned, at any time

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during the shorter of the five-year period preceding such disposition and such Non-U.S. Holder’s holding period, more than 5% of the issued and outstanding Bermuda NewCo common shares.

If the third bullet point above applies to a Non-U.S. Holder, gain recognized by such Non-U.S. Holder on the sale, exchange or other disposition of the Bermuda NewCo common shares will be subject to tax at generally applicable U.S. federal income tax rates. In addition, if Bermuda NewCo ceases to be regularly traded on an established securities market, a buyer of Bermuda NewCo common shares from a Non-U.S. Holder may be required to withhold U.S. income tax at a rate of 15% of the amount realized upon such disposition. Bermuda NewCo will be classified as a U.S. real property holding corporation if the fair market value of Bermuda NewCo’s “U.S. real property interests” equals or exceeds 50% of the sum of the fair market value of Bermuda NewCo’s worldwide real property interests and Bermuda NewCo’s other assets used or held for use in a trade or business, as determined for U.S. federal income tax purposes. Bermuda NewCo believes that it is not currently a U.S. real property holding corporation, and it does not anticipate becoming a U.S. real property holding corporation in the foreseeable future. However, such determination is factual in nature and subject to change