Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 167

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 167
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spectus and all of which are subject to change or differing interpretations, possibly with retroactive effect. Any such change or differing interpretations could affect the tax consequences described below. There can be no assurance that the Internal Revenue Service (“IRS”) or courts will not adopt a position that is contrary to the description included in the following summary.

This discussion is limited to U.S. Holders (as defined below) who hold their Maiden shares as a “capital asset” within the meaning of Section 1221 of the Code (generally, property held for investment) and certain Non-U.S. Holders (as defined below) who hold Bermuda NewCo common shares following the combination. This summary does not address all tax considerations that may be relevant to a particular type of person in light of their particular circumstances. In particular, this summary does not address the U.S. federal income tax consequences of the combination to persons subject to special treatment under the U.S. federal income tax laws, such as:

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dealers or traders in securities or currencies;

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banks, financial institutions or insurance companies;

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real estate investment trusts or regulated investment companies;

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grantor trusts;

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persons who own or have owned, directly, indirectly or constructively, 10% or more, by voting power or value, of Maiden shares;

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persons that hold Maiden shares who exercise their dissenters rights;

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persons who will own, or will be deemed to own, 5% or more, by voting power or value, of Bermuda NewCo common shares (except to the limited extent explicitly addressed herein) following the combination;

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persons that hold their Maiden shares as part of a position in a straddle or as part of a hedging, conversion or other risk reduction transaction for U.S. federal income tax purposes;

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U.S. expatriates and certain former citizens or long-term residents of the United States;

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tax-exempt entities;

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persons who hold their Maiden shares through individual retirement accounts or other tax-deferred accounts;

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persons who acquired their Maiden shares pursuant to the exercise of warrants or conversion rights under convertible instruments;

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persons who acquired their Maiden shares pursuant to the exercise of employee stock options or otherwise as compensation;

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persons who own their Maiden shares through partnerships or other pass-through entities; and

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holders of Kestrel units.

In addition, the following summary does not address (i) any U.S. federal non-income tax consequences of the combination, including estate, gift or other tax consequences, (ii) any state, local