Followers | 240 |
Posts | 12047 |
Boards Moderated | 1 |
Alias Born | 04/05/2009 |
Monday, December 12, 2022 11:06:22 AM
Maiden Holdings, Ltd., a Bermuda-based holding company (NASDAQ: MHLD) (“Maiden” or the “Company”), announced today that it has delivered notice to holders of its outstanding 8.25% Non-Cumulative Preference Shares, Series A (the “Series A Preference Shares”), 7.125% Non-Cumulative Preference Shares, Series C (the “Series C Preference Shares”) and 6.700% Non-Cumulative Preference Shares, Series D (the “Series D Preference Shares” and, together with the Series A Preference Shares and the Series C Preference Shares, the “Preference Shares”) that it intends to exchange all of the outstanding Preference Shares for its common shares, $0.01 par value per share (the “Common Shares”), on December 27, 2022 (the “Redemption Date”). Holders of Preference Shares of each series will receive, for each Preference Share held, three Common Shares with the value of each Preference Share so exchanged being equal to three times the price that is the lower of: (i) the closing price of the Common Shares (as reflected on Nasdaq.com) immediately preceding the Redemption Date; or (ii) the average closing price of the Common Shares (as reflected on Nasdaq.com) for the five trading days immediately preceding the Redemption Date (the “Exchange”). Such Common Shares will be listed for trading on the NASDAQ Capital Market under the symbol “MHLD.”
As a result of the Exchange, the Preference Shares will be delisted from the New York Stock Exchange on the Redemption Date. No Preference Shares will be issued or outstanding thereafter, and the Preference Shares will be deregistered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In addition, all rights of the former holders related to ownership of the Preference Shares will terminate.
Pursuant to Rule 14c-2(a)(1) under the Exchange Act, the Company filed with the Securities and Exchange Commission (the “SEC”) an Information Statement on Schedule 14C, which contains additional information with respect to the Exchange. Such Schedule 14C may be examined, and copies may be obtained, at the SEC’s website at www.sec.gov.
The Preference Shares and the Common Shares are held in book-entry through the Depository Trust Company (“DTC”). The Exchange will occur in accordance with the procedures of DTC. Questions relating to the Exchange should be directed to the American Stock Transfer & Trust Company, LLC, the Company's transfer agent at 6201 15th Ave, Brooklyn, New York 11219, 1-(800) 937-5449.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OR SOLICITATION TO PURCHASE SECURITIES.
About Maiden Holdings, Ltd.
Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. Maiden creates shareholder value by actively managing and allocating our assets and capital, including through ownership and management of businesses and assets mostly in the insurance and related financial services industries where we can leverage our deep knowledge of those markets. Maiden also provides a full range of legacy services to small insurance companies, particularly those in run-off or with blocks of reserves that are no longer core, working with clients to develop and implement finality solutions including acquiring entire companies that enable our clients to meet their capital and risk management objectives.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005096/en/
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, Founder and CEO of Harwood International
Recent MHLD News
- Maiden Holdings, Ltd. Releases Fourth Quarter 2023 Financial Results • Business Wire • 03/12/2024 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 09:03:50 PM
- Maiden Holdings, Ltd. to Release Fourth Quarter 2023 Earnings on March 12, 2024 • Business Wire • 03/05/2024 09:00:00 PM
- Form SCHEDULE 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/06/2024 08:04:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/02/2024 10:57:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/22/2023 09:05:35 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 09:57:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/08/2023 09:55:37 PM
- Maiden Holdings, Ltd. Releases Third Quarter 2023 Financial Results • Business Wire • 11/08/2023 09:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/02/2023 08:05:01 PM
- Maiden Holdings, Ltd. to Release Third Quarter 2023 Earnings on November 8, 2023 • Business Wire • 11/02/2023 08:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/28/2023 08:09:19 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2023 08:07:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2023 08:04:40 PM
- Maiden Holdings, Ltd. Releases Second Quarter 2023 Financial Results • Business Wire • 08/08/2023 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/03/2023 08:03:01 PM
- Maiden Holdings, Ltd. to Release Second Quarter 2023 Earnings on August 8, 2023 • Business Wire • 08/03/2023 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/05/2023 10:06:47 AM
- Maiden Holdings, Ltd. to Rejoin Russell 3000® Index • Business Wire • 06/26/2023 11:00:00 AM
- Maiden Holdings, Ltd. Releases Leadership Update and First Quarter 2023 Financial Results • Business Wire • 05/09/2023 09:00:00 PM
- Maiden Holdings, Ltd. to Release First Quarter 2023 Earnings on May 9, 2023 • Business Wire • 05/02/2023 08:00:00 PM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM
Avant Technologies to Implement AI-Empowered, Zero Trust Architecture in Its Data Centers • AVAI • Apr 29, 2024 8:00 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM