Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 266

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 266
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 to align the required approval threshold with respect to mergers, consolidations and business combinations with the approval thresholds required under the Maiden bye-laws for amalgamations and other matters in respect of which Maiden shareholders are required to vote.

Accordingly, Maiden shareholders are being asked to approve at the Maiden special meeting the following amendment to the Maiden bye-laws, effective immediately upon approval, requiring, for any resolution proposed at a general meeting to approve the merger, amalgamation, consolidation or business combination of Maiden with any other company, the affirmative vote of a majority of the votes cast by Maiden shareholders that are present (in person or by proxy) and voting at such general meeting, provided, that if the first merger resolution is not approved by the Maiden shareholders, the amendments to the Maiden bye-laws contemplated by the first merger approval bye-law proposal shall not take effect:

The Maiden bye-laws shall be amended as follows:

Amendment of Bye-law 87 . Bye-law 87 of the Maiden bye-laws is deleted in its entirety and replaced by the following:

“87. Merger, Amalgamation, Consolidation or Business Combination

Any resolution proposed for consideration at any general meeting to approve any merger, amalgamation, consolidation, business combination or similar transaction of the Company with any other company, wherever incorporated, shall (other than in respect of any merger, amalgamation, consolidation, business combination or similar transaction constituting a Business Combination to which the restrictions in Bye-law 83.1 shall apply) require the approval of a simple majority of votes cast at such meeting and the quorum for such meeting shall be that required in Bye-law 27 and a poll may be demanded in respect of such resolution in accordance with the provisions of Bye-law 30.”

#### Vote Required
Approving the first merger approval bye-law 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 first merger approval bye-law resolution.

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#### Board Recommendation
**THE MAIDEN BOARD (OTHER THAN MESSRS. ZYSK