Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 45

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 45
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 Nasdaq (Page 103)

Maiden has agreed to use reasonable best efforts to take, or cause to be taken, all actions, and to do or cause to be done all things, necessary, proper or advisable under applicable laws and the rules and policies of Nasdaq and the SEC, to cause Maiden shares to be de-listed from Nasdaq and de-registered under the Exchange Act as soon as reasonably practicable following the first merger effective time.

#### Comparison of Shareholder Rights (Page159)
Maiden shareholders receiving Bermuda NewCo common shares upon completion of the transaction will have different rights from those to which they are entitled as Maiden shareholders, even though both Maiden and Bermuda NewCo are governed by Bermuda law, because of differences between the respective governing corporate documents of Maiden and Bermuda NewCo. These differences are described in more detail in the section of this proxy statement/prospectus entitled “Comparison of Shareholder Rights” beginning on page 159.

Description of Registration and Investor Rights Agreements (Page 135)

It is anticipated that Bermuda NewCo will enter into registration and investor rights agreements with KILH and AmTrust at the closing. The registration and investor rights agreements provide that, following the expiration of the lock-up period therein, KILH, AmTrust and their permitted transferees may require Bermuda NewCo to register under the Securities Act all or any portion of the Bermuda NewCo common shares issued to KILH and AmTrust in connection with the closing, subject to customary requirements and limitations. KILH, AmTrust and their permitted transferees also have piggyback registration rights, such that KILH, AmTrust and their permitted transferees may include their respective shares in certain future registrations of Bermuda NewCo’s equity securities. The demand registration rights and piggyback registration rights are each subject to market cut-back exceptions.

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TABLE OF CONTENTS

The registration rights agreement sets forth customary registration procedures, including an agreement by Bermuda NewCo to make its management reasonably available to participate in road show presentations in connection with any underwritten offerings. Bermuda NewCo also agreed to indemnify KILH, AmTrust and their permitted transferees with respect to liabilities resulting from untrue statements or omissions in any registration statement used in any such registration, other than untrue statements or omissions resulting from information furnished to Bermuda NewCo for use in a registration statement by KILH, AmTrust or any of their permitted transferees.

The combination agreement and the registration