Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 17

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 17
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 Combination” beginning on page 105, the Kestrel contribution and first merger, taken together, and the second merger will each qualify as a transaction described in Section 351 of the Code. If such treatment applies, U.S. Holders (as defined herein) of Maiden shares will generally not recognize gain or loss upon the exchange of their Maiden shares, or receipt of Bermuda NewCo common shares, in the combination (except with respect to cash received in lieu of any fractional shares). Upon consummation of the second merger, Bermuda NewCo expects to be treated as a domestic corporation for all U.S. federal tax purposes pursuant to Section 7874(b) of the Code.

For a more detailed summary of the tax consequences of the combination, see the section of this 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. Hold