Maiden to exchange all preference shares for common at 3:1 ratio; book value per share up ~$0.82

Maiden Holdings, Ltd.

Exchange of Series A, C, D preference shares for 3 common shares each; requires 2/3 vote of each series.
Maiden Reinsurance (holds >73% of each series) will consent; special committee of independent directors approved.
Expected completion by Dec 31, 2022; preference shares will cease trading on NYSE.
Post-exchange, Maiden Reinsurance will own ~29% of common shares but voting power capped at 9.5%.
Estimated book value increase of ~$0.82 per common share; Odeon Capital and Houlihan Lokey advised.

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