Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 12

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 12
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 first merger approval bye-law proposal; the adjournment proposal; the Bermuda NewCo equity plan proposal; and the advisory vote on merger-related compensation proposal.

We will be unable to complete the transaction if the Maiden shareholder approval is not obtained.

We have included in this proxy statement/prospectus important information about the transaction, the combination agreement (a copy of which is attached as Annex A) and the Maiden special meeting. You should read this information carefully and in its entirety. The enclosed voting materials allow you to vote your shares without attending the Maiden special meeting. Your vote is very important and we encourage you to submit your proxy as soon as possible.

Q:

What will Maiden shareholders and the Kestrel equityholders receive in the transaction?

A:

In connection with completion of the transaction, each issued and outstanding Maiden share, other than any Maiden share underlying outstanding options to purchase Maiden shares or that are unvested or subject to a risk of forfeiture, will be automatically canceled and converted into the right to receive one-twentieth (0.05) of a Bermuda NewCo common share. In addition, as consideration for the Kestrel contribution, the Kestrel equityholders, at the closing, will receive an aggregate of $40,000,000 in cash and 2,750,000 common shares of Bermuda NewCo. In addition, the Kestrel equityholders will be entitled to receive contingent consideration up to the lesser of (x) an aggregate number of Bermuda NewCo common shares equal to $45,000,000 divided by certain volume weighted average prices of such shares, subject to the achievement of certain EBITDA milestones by the Kestrel Business and (y) 2,750,000 common shares of Bermuda NewCo.

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TABLE OF CONTENTS

**Q:

Should I send in my share certificates now for the exchange?

A:

No. Maiden shareholders should keep any share certificates they hold at this time. After the mergers are completed, Maiden shareholders holding Maiden share certificates will receive from the paying agent (to be jointly designated by Maiden and Kestrel) a letter of transmittal and instructions on how to obtain the merger consideration.

Q:

What equity stake will former Maiden shareholders and the former Kestrel equityholders hold in Bermuda NewCo?

A:

Immediately following the closing of the transaction, former Maiden shareholders are expected to own approximately 64.8% of the issued and outstanding Bermuda NewCo common shares, and former Kestrel equityholders are expected