Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 362

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 362
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 is a “controlled company” and may elect not to comply with certain corporate governance requirements. As a controlled company, certain exemptions under the rules will mean that Kyivstar Group Ltd. is not required to comply with certain corporate governance requirements, including that (i) a majority of the Kyivstar Group Ltd. Board consist of independent directors, as defined under the Nasdaq listing rules, (ii) a majority of the independent directors select or recommend its director nominees, (iii) the compensation committee be responsible for determining or recommending the remuneration of executive officers and (iv) Kyivstar Group Ltd. have a compensation committee that consists entirely of independent directors. Kyivstar Group Ltd. currently intends to take advantage of the foregoing exemptions. Therefore, shareholders may not have the same protections afforded to shareholders of companies that are subject to all of these corporate governance requirements. In the event that we cease to be a “controlled company” and our Kyivstar Group Ltd. Common Shares continue to be listed on Nasdaq, we will continue to rely on the exemptions afforded to foreign private issuers described above. In the event that we cease to be a “controlled company” and no longer qualify as a foreign private issuer, we will be required to comply with these provisions within the applicable transition periods. See “ Risk Factors — Risks Related to Being a Public Company — Kyivstar Group Ltd., as a “controlled company” within the meaning of the rules of the Nasdaq and will qualify for certain exemptions from Nasdaq corporate governance requirements .” Appointment Rights Pursuant to the Business Combination Agreement, Cohen Circle has the right to appoint one director to the Kyivstar Group Ltd. Board and the Seller has the right to appoint up to six members of the Kyivstar Group Ltd. Board. See “ The Business Combination Agreement.” Committees of the PubCo Board Audit Committee Under the Nasdaq corporate governance rules, Kyivstar Group Ltd. is required to maintain an audit committee consisting of at least three independent directors, each of whom is financially literate and at least one of whom has accounting or related financial management expertise. Following the listing of the Kyivstar Group Ltd. Shares on Nasdaq, Kyivstar Group Ltd.’s audit committee will consist of.will serve as the chairperson of the audit committee. All members of PubCo’s audit committee meet the requirements for financial literacy under the applicable rules and regulations of the SEC and the Nasdaq corporate governance rules. The Kyivstar Group Ltd. Board has determined thatis an “audit