Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 19

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 19
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 proxy statement/prospectus titled “Tax Consequences of the Combination” beginning on page 105.

Q:

Are Maiden shareholders entitled to appraisal rights?

A:

Yes. Under Bermuda law, Maiden shareholders who do not wish to vote in favor of the first merger resolution and who are not satisfied that they have been offered fair value for their Maiden shares, may, within one month of the notice of the meeting being given, apply to the Bermuda Court to appraise the fair value of their Maiden shares.

Q:

If the transaction is completed, when can I expect to receive the merger consideration for my Maiden shares?

A:

Certificated Shares : As soon as reasonably practicable after the second merger effective time, the paying agent will mail to each holder of certificated Maiden shares a form of letter of transmittal and instructions for use in effecting the exchange of Maiden shares for the merger consideration. After receiving the proper documentation from a Maiden shareholder, the paying agent will deliver to such holder the Bermuda NewCo common shares to which such holder is entitled under the combination

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agreement. More information on the documentation a Maiden shareholder is required to deliver to the paying agent may be found under the section entitled “The Combination Agreement — Conversion and Exchange of Maiden Shares” beginning on page 113.

Book Entry Shares : Each holder of record of one or more book entry Maiden shares whose shares will be converted into the right to receive the merger consideration will automatically, upon the second merger effective time, be entitled to receive, and the paying agent will deliver to such holder as promptly as practicable after the second merger effective time, the Bermuda NewCo common shares to which such holder is entitled under the combination agreement. Holders of book entry shares will not be required to deliver a certificate but may, if required by the paying agent, be required to deliver an executed letter of transmittal to the paying agent in order to receive the merger consideration.

Q:

What happens if I sell my Maiden shares before the Maiden special meeting?

A:

The record date for the Maiden special meeting (the “record date”), is earlier than the date of the Maiden special meeting and the date that the transaction is expected to be completed. If you transfer your shares after the record date, but before the Maiden special meeting, unless the transferee requests a proxy, you will retain your right to vote at the Maiden special meeting, but will have transferred the right to receive the merger consideration in the mergers. In order