Company: CMDB
Filing Date: 2025-04-23
Form Type: 20FR12B/A
Source: 0001140361-25-015197
Chunk: 214

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-23
Form: 20FR12B/A
Chunk 214
---
 from voyage charter agreements is collected in advance. We have determined that there is one single performance obligation for each of our voyage contracts, which is to provide the charterer with an integrated transportation service within a specified time period. We are also engaged in contracts of affreightment which are contracts for multiple voyage charter employments. In addition, we have concluded that revenues from voyage charters in the spot market or under contracts of affreightment are recognized ratably over time because the charterer simultaneously receives and consumes the benefits of our performance as we perform. Therefore, since our performance obligation under each voyage contract is met evenly as the voyage progresses, revenue is recognized on a straight-line basis over the voyage days from the loading of cargo to its discharge.

#### Recent Accounting Pronouncements
There are no recent accounting pronouncements that are expected to have material effect on the accounting policies of the predecessor combined carve-out financial statements and the consolidated financial statements of Costamare Bulkers Holdings.

<div align='center'>109</div>

TABLE OF CONTENTS

| ITEM 6. | DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES |

| A. | Directors and Senior Management |

The following table sets forth information regarding the individuals who will be our directors and executive officers following the spin-off. The business address of each of our executive officers and directors listed below is 7 rue du Gabian, MC 98000 Monaco. Our telephone number at that address is +377 92 00 1745. Our board of directors will be elected annually on a staggered basis, and each elected director will hold office for a three-year term except that the initial terms of office of certain persons serving as directors at the time of the spin-off will expire in 2026, 2027, and 2028, as detailed below. The following directors or nominees for director have been determined by our board of directors to be independent under the standards of the NYSE and the rules and regulations of the SEC: David Grant and Katerina Eleftheriou. Officers are elected from time to time by vote of our board of directors and hold office until a successor is elected and qualified.

| Name                    |     | Age |     | Position                                       |
| Gregory Zikos           |     |  56 |     | Chief Executive Officer and Class III Director |
| Peter Lund              |     |  50 |     | Class II Director                              |
| Jens Jacobsen           |     |  48 |     | Chief Commercial Officer and