Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 293

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 293
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-month period described above.

Management fees charged by Costamare Shipping in the years ended December 31, 2023 and 2024, amounted to $17,085 and $14,966, respectively, and are included in Management and agency fees-related parties in the accompanying predecessor combined carve-out statements of operations. The amounts received by Costamare Shipping include amounts paid to third-party managers of $5,669 and $4,155 for the years ended December 31, 2023 and 2024, respectively. In addition, Costamare Shipping and Costamare Services charged (i) $2,429 for the year ended December 31, 2024 ($2,112 for the year ended December 31, 2023), representing a fee of 1.25% on all gross revenues, as provided in the CMRE Framework Agreement and the CMRE Services Agreement, as applicable, which is separately reflected in Voyage expenses-related parties in the accompanying predecessor combined carve-out statements of operations, (ii) $949, representing the pro-rata basis portion of the annual fee of $2,667, which is included in General and administrative expenses – related parties in the accompanying predecessor combined carve-out statements of operations for the year ended December 31, 2024 ($1,048 for the year ended December 31, 2023) and (iii) $2,991, representing the pro-rata basis portion of the fair value of 598,400 shares of Costamare, which is included in General and administrative expenses – related parties in the accompanying predecessor combined carve-out statements of operations for the year ended December 31, 2024 ($2,299 for the year ended December 31, 2023).

Furthermore, in accordance with the management agreements with third-party managers, third-party managers have been provided with the amount of $50 per vessel as working capital security. As of December 31, 2023, the working capital security was $3,300 in aggregate, of which $2,500 is included in Accounts receivable, net, non-current and $800 in Accounts receivable, net, in the accompanying 2023 predecessor combined carve-out balance sheet. As of December 31, 2024, the working capital security was $1,650 in aggregate, of which $1,600 is included in Accounts receivable, net, non-current and $50 in Accounts receivable, net, in the accompanying 2024 predecessor combined carve-out balance sheet.