Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 285

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 285
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 Accordingly, you may vote not to approve this proposal on merger-related executive compensation and vote to approve the first merger resolution and vice versa. Because the vote is advisory in nature, it will not be binding on Maiden, regardless of whether the first merger is approved. Approval of the non-binding, advisory proposal with respect to the compensation that may be received by Maiden’s named executive officers in connection with the mergers is not a condition to completion of the mergers, and failure to approve this advisory matter will have no effect on the vote to approve the first merger resolution. Because the merger-related executive compensation to be paid in connection with the mergers is based on contractual arrangements with the named executives, such compensation will be payable, regardless of the outcome of this advisory vote, if the first merger is approved (subject only to the contractual conditions applicable thereto).

Approving the advisory vote on merger-related compensation proposal requires the affirmative vote (in person or by proxy) of a majority of the votes cast “For” or “Against” the proposal. Accordingly, a Maiden shareholder’s failure to submit a proxy card or to vote in person at the Maiden special meeting, an abstention from voting, or the failure of a Maiden shareholder who holds his or her shares in “street name” through a broker or other nominee to give voting instructions to such broker or other nominee will have no effect on the outcome of any vote to approve the advisory vote on merger-related compensation proposal .

#### Board Recommendation
**THE MAIDEN BOARD (OTHER THAN MESSRS. ZYSKIND AND NEUBERGER, WHO RECUSED THEMSELVES FROM DETERMINATIONS RELATING TO THE TRANSACTIONS CONTEMPLATED BY THE COMBINATION AGREEMENT DUE TO THEIR FINANCIAL INTEREST IN AMTRUST) UNANIMOUSLY RECOMMENDS THAT MAIDEN SHAREHOLDERS VOTE “FOR” PROPOSAL 6.**

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### LEGAL MATTERS
Certain legal matters will be passed upon on behalf of Maiden by Paul, Weiss, Rifkind, Wharton & Garrison LLP, U.S. counsel to Maiden, and on behalf of Kestrel by Skadden, Arps, Slate, Meagher & Flom LLP, U.S. counsel to Kestrel.

Appleby (Bermuda) Limited, Bermuda counsel to Maiden, will pass upon the validity of the Bermuda NewCo common shares offered by this proxy statement/prospectus.

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