Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 30

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 30
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 effective this registration statement under the Exchange Act. Costamare Inc. may waive one or more of these conditions, at the direction of the Costamare Inc. Board in its sole and absolute discretion, and the determination by the Costamare Inc. Board regarding the satisfaction of these conditions will be conclusive. The fulfillment of these conditions will not create any obligation on Costamare Inc.’s part to effect the distribution and complete the spin-off, and Costamare Inc. has reserved the right to amend, modify or abandon any and all terms of the spin-off and the related transactions at any time prior to the distribution date, at the direction of the Costamare Inc. Board. See also “Item 4. Information on the Company—4.A. History and Development of the Company—The Spin-off—Conditions to the Spin-off”.

| Q: | What if I want to sell my Costamare Inc. shares or my Costamare Bulkers Holdings shares? |

| A: | You should consult with your custodian bank or broker or other financial advisors and/or your tax advisors. |

| Q: | What are the U.S. Federal income tax consequences to me of the spin-off? |

| A: | The receipt of our shares by U.S. Holders (as defined in “Item 10. Additional Information—10.E. Tax Considerations—United States Federal Income Tax Considerations”) pursuant to the spin-off should be treated, for U.S. Federal income tax purposes, as a taxable distribution in an amount equal to the fair market value on the distribution date of our shares that are received. Subject to the passive foreign investment company (“PFIC”) rules discussed in “Item 10. Additional Information—10.E. Tax Considerations— United States Federal Income Tax Considerations—PFIC Status”, this distribution will be treated as a dividend to the extent of the current and accumulated earnings and profits of Costamare Inc., as determined for United States federal income tax purposes. To the extent that the amount of the distribution exceeds Costamare Inc.’s current and accumulated earnings and profits for the taxable year of the distribution, the distribution will first be treated as a tax-free return of capital, causing a reduction in the adjusted basis of the holder’s Costamare Inc. shares, and to the extent the amount of the distribution exceeds the holder’s adjusted tax basis, the excess will be treated as capital gain. Costamare Inc. will not be able to determine the amount of the distribution that will