UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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SCHEDULE 13G

 

 

 

Under the Securities Exchange Act of 1934

 

 

 

(Amendment No. 1)*

 

 

 

Maiden Holdings, Ltd.

 

 

(Name of Issuer)

 

 

 

Common Stock

 

 

(Title of Class of Securities)

 

 

 

G5753U112

 

 

(CUSIP Number)

 

 

 

July 24, 2009

 

 

(Date of Event which Requires Filing of this Statement)

 

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o

Rule 13d-1(b)

x

Rule 13d-1(c)

 

o

Rule 13d-1(d)

___________________________________

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

The Reporting Persons have previously reported holdings of Common Stock of the Issuer on Schedule 13D.

 


CUSIP NO.

G5753U112

1

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only)

 

Trafelet Capital Management, L.P.

 

2

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)         o

 

(b)         x

3

SEC Use Only

4

Citizenship or Place of Organization.

 

Delaware

 

Number

of Shares

Beneficially

Owned by

Each

Reporting

Person With

5  Sole Voting Power

 

0 shares

 

6  Shared Voting Power

 

5,835,642 shares

Refer to Item 4 below.

7  Sole Dispositive Power

 

0 shares

 

8  Shared Dispositive Power

 

5,835,642 shares

Refer to Item 4 below.

9

Aggregate Amount Beneficially Owned by Each Reporting Person

 

5,835,642 shares

 

      Refer to Item 4 below.

 

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o N/A

 

11

Percent of Class Represented by Amount in Row (9)*

 

8.30%

 

Refer to Item 4 below.

 


CUSIP NO.

G5753U112

 

 

 

12

Type of Reporting Person (See Instructions)

 

PN (Limited Partnership)

 

 

 


CUSIP NO.

G5753U112

1

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only)

 

Trafelet & Company, LLC

 

2

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)         o

 

(b)         x

3

SEC Use Only

4

Citizenship or Place of Organization.

 

Delaware

 

Number

of Shares

Beneficially

Owned by

Each

Reporting

Person With

5  Sole Voting Power

 

0 shares

 

6  Shared Voting Power

 

5,835,642 shares

 

Refer to Item 4 below.

7  Sole Dispositive Power

 

0 shares

 

8  Shared Dispositive Power

 

5,835,642 shares

 

Refer to Item 4 below.

9

Aggregate Amount Beneficially Owned by Each Reporting Person

 

5,835,642 shares

 

Refer to Item 4 below.

 

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o N/A

 

 


CUSIP NO.

G5753U112

 

 

11                  Percent of Class Represented by Amount in Row (9)*

 

                      8.30%

                     Refer to Item 4 below.

12

Type of Reporting Person (See Instructions)

 

OO (Limited Liability Company)

 

 

 


CUSIP NO.

G5753U112

1

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only)

 

Remy Trafelet

 

2

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)         o

 

(b)         x

3

SEC Use Only

4

Citizenship or Place of Organization.

 

United States

 

Number

of Shares

Beneficially

Owned by

Each

Reporting

Person With

5  Sole Voting Power

 

0 shares

 

6  Shared Voting Power

 

5,835,642 shares

 

Refer to Item 4 below.

7  Sole Dispositive Power

 

0 shares

 

8  Shared Dispositive Power

 

5,835,642 shares

Refer to Item 4 below.

9

Aggregate Amount Beneficially Owned by Each Reporting Person

 

5,835,642 shares

 

Refer to Item 4 below.

 

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o N/A

 


CUSIP NO.

G5753U112

 

 

 

11

Percent of Class Represented by Amount in Row (9)*

 

8.30%

 

Refer to Item 4 below.

12

Type of Reporting Person (See Instructions)

 

IN

 

 

 


CUSIP NO.

G5753U112

Item 1.

 

(a)

Name of Issuer

 

Maiden Holdings, Ltd.

 

(b)

Address of Issuer's Principal Executive Offices

 

 

48 Par-la-Ville Road

Suite 1141

Hamilton, HM 11

Bermuda

 

Item 2.

 

(a)

Name of Person Filing

 

Trafelet Capital Management, L.P.

Trafelet & Company, LLC

Remy Trafelet

 

(b)

Address of Principal Business Office or, if none, Residence

 

590 Madison Ave

37th Floor

New York, NY 10022

 

(c)

Citizenship

 

Trafelet Capital Management, L.P. - Delaware

Trafelet & Company, LLC - Delaware

Remy Trafelet - United States

 

(d)

Title of Class of Securities

 

Common Stock

 

(e)

CUSIP Number

 

G5753U112

 

 


CUSIP NO.

G5753U112

Item 3.

 

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

(a)

o

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b)

o

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)

o

Insurance Company as defined in Section 3(a)(19) of the Act

(d)

o

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

(e)

o

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g)

o

A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

(h)

o

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

o

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Item 4.

Ownership***

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

(a)

Amount Beneficially Owned***

 

 

Trafelet Capital Management, L.P. - 5,835,642 shares

 

Trafelet & Company, LLC - 5,835,642 shares

 

Remy Trafelet - 5,835,642 shares

 

(b)

Percent of Class

 

Trafelet Capital Management, L.P. - 8.30%

Trafelet & Company, LLC - 8.30%

Remy Trafelet - 8.30%

 

(c)

Number of shares as to which such person has:

 

 

(i)

sole power to vote or to direct the vote

 

Trafelet Capital Management, L.P. - 0 shares

Trafelet & Company, LLC - 0 shares

Remy Trafelet -0 shares


CUSIP NO.

G5753U112

 

 

 

 

(ii)

shared power to vote or to direct the vote

 

 

 

Trafelet Capital Management, L.P. - 5,835,642 shares

Trafelet & Company, LLC - 5,835,642 shares

Remy Trafelet - 5,835,642 shares

 

 

(iii)

sole power to dispose or to direct the disposition of

 

 

Trafelet Capital Management, L.P. - 0 shares

Trafelet & Company, LLC - 0 shares

Remy Trafelet - 0 shares

 

 

(iv)

shared power to dispose or to direct the disposition of

 

 

 

Trafelet Capital Management, L.P. - 5,835,642 shares

Trafelet & Company, LLC - 5,835,642 shares

Remy Trafelet - 5,835,642 shares

 

 

*** Shares reported herein are held by several private investment funds for which Trafelet Capital Management, L.P. serves as the investment manager. Trafelet & Company, LLC serves as the general partner of Trafelet Capital Management, L.P. and Remy Trafelet serves as managing member of Trafelet & Company, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.

 

Item 5.

Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

 


CUSIP NO.

G5753U112

 

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

Not applicable.

Item 8.

Identification and Classification of Members of the Group

Not applicable.

Item 9.

Notice of Dissolution of Group

Not applicable.

Item 10.

Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 


CUSIP NO.

G5753U112

 

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.

July 24, 2009

 

TRAFELET CAPITAL MANAGEMENT, L.P.

By: Trafelet & Company, LLC,

its General Partner

 

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

 

TRAFELET & COMPANY, LLC

 

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

 

REMY TRAFELET

 

By: /s/ Remy Trafelet

Remy Trafelet, individually

 


Exhibit 1

JOINT FILING AGREEMENT

This Joint Filing Agreement, dated as of July 24, 2009, is by and among Trafelet Capital Management, L.P., Trafelet & Company, LLC, and Remy Trafelet (collectively, the "Filers").

 

Each of the Filers may be required to file with the United States Securities and Exchange Commission a statement on Schedule 13D and/or 13G with respect to shares of Common Stock of Maiden Holdings, Ltd. beneficially owned by them from time to time.

 

Pursuant to and in accordance with Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the Filers hereby agree to file a single statement on Schedule 13D and/or 13G (and any amendments thereto) on behalf of each of the Filers, and hereby further agree to file this Joint Filing Agreement as an exhibit to such statement, as required by such rule.

 

This Joint Filing Agreement may be terminated by any of the Filers upon written notice or such lesser period of notice as the Filers may mutually agree.

 

 

Executed and delivered as of the date first above written.

 

 

TRAFELET CAPITAL MANAGEMENT, L.P.

By: Trafelet & Company, LLC,

its General Partner

 

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

 

TRAFELET & COMPANY, LLC

 

By: /s/ Remy Trafelet

Remy Trafelet, Managing Member

 

REMY TRAFELET

 

By: /s/ Remy Trafelet

Remy Trafelet, individually