Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 103

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 103
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 payment, surrender or exchange your common shares of Costamare Inc. or take any other action to receive your shares of Costamare Bulkers Holdings. Our shares will begin “regular way” trading separately from Costamare Inc. shares on the NYSE on , 2025, on the distribution date. Costamare Inc. shareholders will not receive fractional shares and will instead receive cash upon the sale of the aggregated fractional shares in lieu of any fractional shares that they would have received after application of the distribution ratio. Restructuring Transactions Currently Costamare Bulkers Holdings holds all of the equity interests in Costamare Inc.’s subsidiaries that held, hold or were formed for the purpose of holding the owned dry bulk vessels and any related assets and liabilities through our wholly owned subsidiary, Costamare Bulkers Ships. Costamare Inc. owns 100% of our issued and outstanding shares and intends to distribute all of our shares to holders of Costamare Inc. shares on a pro rata basis. Promptly after the spin-off and distribution are complete, we will proceed to purchase all of the equity interests in CBI from Costamare Inc. and the CBI Minority Investor. The purchase of all of the equity in CBI will occur on the same day as the spin-off and distribution. We will (i) exchange the CBI Minority Investor’s equity interests in CBI, or an aggregate of 2.5% of CBI’s shares, for an aggregate of of our shares, or 0.75% of our outstanding shares (the “CBI Share Exchange”) and (ii) purchase all of the remaining 97.5% equity interests in CBI from Costamare Inc. for cash consideration (the “CBI Share Purchase”). As a result, promptly after the spin-off, following completion of the CBI Share Exchange and the CBI Share Purchase, we will hold 100% of the shares of CBI and holders of Costamare Inc. shares on the record date will own 99.25% of our outstanding shares, with the CBI Minority Investor owning the remaining 0.75% of our outstanding shares. Immediately following completion of the spin-off and the Restructuring Transactions, we shall have cash or cash equivalents of not less than $ . Reasons for the Spin-off We and Costamare Inc. believe that both independent, publicly traded companies will benefit from the spin-off by being better positioned to pursue their distinct operating priorities and strategies and enable management of both companies