Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 31

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 31
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 or other nominee will have no effect on the outcome of any vote to approve the adjournment proposal.

#### Bermuda NewCo equity plan proposal
**: Approving the Bermuda NewCo equity plan proposal requires the affirmative vote (in person or by proxy) of a majority of the votes cast “For” or “Against” the proposal. Accordingly, a Maiden shareholder’s failure to submit a proxy card or to vote in person at the Maiden special meeting, an abstention from voting, or the failure of a Maiden shareholder who holds his or her shares in “street name” through a broker or other nominee to give voting instructions to such broker or other nominee will have no effect on the outcome of any vote to approve the Bermuda NewCo equity plan proposal.

Advisory vote on merger-related compensation proposal : In accordance with Section 14A of the Exchange Act, Maiden is providing shareholders with the opportunity to approve, by a non-binding, advisory vote, the compensation that may be paid or become payable to Maiden’s named executive officers in connection with the mergers, as further described in the section of this proxy statement/prospectus entitled “PROPOSAL 6: Advisory Vote on Merger-Related Compensation for Maiden Named Executive Officers” beginning on page 186. Approving the advisory vote on merger-related compensation proposal requires the affirmative vote (in person or by proxy) of a majority of the votes cast “For” or “Against” the proposal. Accordingly, a Maiden shareholder’s failure to submit a proxy card or to vote in person at the Maiden special**

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meeting, an abstention from voting, or the failure of a Maiden shareholder who holds his or her shares in “street name” through a broker or other nominee to give voting instructions to such broker or other nominee will have no effect on the outcome of any vote to approve the advisory vote on merger-related compensation proposal.

#### Recommendation of Maiden’s Board (Page66)
**The Maiden board, with two directors having declared their interest in the transaction and recused themselves from voting, has unanimously (i) approved the combination agreement, each ancillary agreement to which Maiden is or will be a party and the transaction, (ii) approved the voting cutback proposal and the first merger approval bye-law proposal, (iii) determined that the transaction (including the first merger) is in the best interests of Maiden and fair to the Maiden shareholders, (iv) determined that the consideration payable to the holders of Maiden shares in connection with the