Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 311

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 311
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’ operations up to the customary limits provided by the Protection and Indemnity (“P&I”) Clubs, members of the International Group of P&I Clubs. 11. Common Shares and Additional Paid-In Capital: (a) Common Shares: As of December 31, 2024, Common shares represent the aggregate issued share capital of the 69 entities included in these predecessor combined carve-out financial statements (Note 1). (b) Additional paid-in capital: The amounts shown in the accompanying December 31, 2023 and 2024 predecessor combined carve-out balance sheets, as Additional paid-in capital, represent contributions made to CBI by Costamare and the minority shareholders of CBI. In 2022, Costamare, participated with three other investors (the “Other Investors”) in the share capital increase of CBI whereby (i) Costamare became the holder of 100,000,000 common shares of CBI (representing 92.5% of the issued share capital of CBI) in exchange for $100,000 and (ii) the three Other Investors acquired, in aggregate, 8,108,108 common shares of CBI (representing 7.5% of the issued share capital of CBI) in exchange for $3,750. During the year ended December 31, 2023, CBI increased its share capital by issuing another 100,000,000 common shares to Costamare in exchange for $100,000 and 8,108,108 common shares to the Other Investors in exchange for $3,750. Furthermore, in November 2024, Costamare purchased 10,810,810.67 common shares of CBI (5.0%) from two of the Other Investors, increasing its stake in CBI to 97.5% (210,810,810.67 common shares). (c) Net parent investment: The amounts shown in the accompanying predecessor combined carve-out balance sheet, as Net parent investment for the years ended December 31, 2023 and 2024 include: (i) advances made by Costamare for vessel acquisitions, (ii) payments made by Costamare for vessels’ operating expenses net of (iii) distributions made by the Company to Costamare. 12. Voyage Revenues: The following table shows the voyage revenues earned from time charters and voyage charters during the years ended December 31, 2023 and 2024:

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