Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 234

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 234
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 proxy at a meeting must approve any merger, amalgamation, business combination or similar transaction with another company.

The Bermuda Companies Act provides that a resolution to remove Bermuda NewCo’s auditor before the expiration of its term of office must be approved by at least two-thirds of the votes cast at a meeting of Bermuda NewCo’s shareholders of which notice specifying the intention to pass such resolution was given to such Bermuda NewCo shareholders. The quorum for general meetings of Bermuda NewCo’s shareholders is two or more persons holding or representing a majority of the issued and outstanding Bermuda NewCo common shares on an unadjusted basis. The Bermuda NewCo board has the power to approve Bermuda NewCo’s discontinuation from Bermuda to another jurisdiction. Under the Bermuda NewCo bye-laws, the rights attached to any class of Bermuda NewCo shares, common or preferred, may be varied with the consent in writing of the holders of at least a majority of the issued shares of that class or with the sanction of a resolution passed by a majority of the votes cast at a separate general meeting of the holders of the shares of the class.

In the event of Bermuda NewCo’s liquidation, dissolution or winding-up, the holders of shares are entitled to share equally and ratably in Bermuda NewCo’s assets, if any, remaining after the payment of all its debts and liabilities and the liquidation preference of any issued and outstanding preferred shares. The

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Bermuda NewCo common shares to be issued in connection with the combination will be validly issued, fully paid and non-assessable. Subject to the listing rules and requirements of Nasdaq, authorized but unissued shares may, subject to any rights attaching to existing shares, be issued at any time and at the discretion of the Bermuda NewCo board without the approval of Bermuda NewCo’s shareholders, with such rights, preferences and limitations as the board may determine.

#### Limitation on Voting Rights
In general, and except as provided under the Bermuda NewCo bye-laws and as provided below, the common shareholders have one vote for each common share held by them and are entitled to vote, on a non-cumulative basis, at all meetings of shareholders. Unlike the current Maiden bye-laws (as described in the section entitled “Comparison of Shareholder Rights” beginning on page 159), the Bermuda NewCo bye-laws do not limit the voting power of any holder of Bermuda NewCo common shares to 9.5% of the votes