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EX-99.1 - PRESS RELEASE - CRM Holdings, Ltd.ex99-1.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 14, 2011
 
Majestic Capital, Ltd.
(Exact Name of Registrant as Specified in Its Charter)
 
Bermuda
(State or Other Jurisdiction of Incorporation)
 
001-32705     98-0521707
(Commission File Number)     (IRS Employer Identification No.)
 
P.O. Box HM 2062, Hamilton HM HX, Bermuda    
(Address of Principal Executive Offices)   (Zip Code)
 
(441) 295-6689
(Registrant’s Telephone Number, Including Area Code)
 
 
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 8.01. Other Information.
 
On February 14, 2011, Majestic Capital, Ltd. (the “Company”) issued a news release announcing that Majestic USA Capital, Inc., a wholly-owned subsidiary of the Company, has extended the expiration time from February 11, 2011 at 5:00 p.m., New York City time, to February 25, 2011 at 5:00 p.m., New York City time, for the previously announced solicitation of consents from the holders of Majestic USA Capital’s Trust Preferred Securities Due 2036 (the “Trust Preferred Securities”)(CUSIP: 12627NAA5). Majestic USA Capital is seeking consents to proposed amendments to certain events of default and covenants in the Indenture, dated November 14, 2006, and Amended Declaration of Trust, dated November 14, 2006, which govern the Trust Preferred Securities. The adoption of the proposed amendments is a condition to the consummation of the Company’s pending amalgamation with Bayside Equity Partners LLC announced on September 21, 2010. A copy of the press release announcing the extension of the expiration time is attached hereto as Exhibit 99.1.
 
Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1
News Release of the Company dated February 14, 2011
 
 
2

 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  Majestic Capital, Ltd.  
       
February 14, 2011  
By:
/s/ James J. Scardino   
    James J. Scardino
Chief Executive Officer