Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 207

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 207
---
 regime discussed above in “— Passive Foreign Investment Company Rules — In general” and the tax consequences should be as set forth above under the caption heading “— Redemption of Cohen Circle Class A Ordinary Shares,” otherwise the tax consequences should be as set forth above under the heading “— Passive Foreign Investment Company Rules — In general.” 85 The rules dealing with PFICs and with the QEF, deemed sale, and mark -to -marketelections are very complex and are affected by various factors. Accordingly, U.S. holders of Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants should consult their own tax advisors concerning the application of the PFIC rules to their Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants under their particular circumstances. Ownership of Kyivstar Group Ltd. Common Shares and Kyivstar Group Ltd. Warrants Distributions on Kyivstar Group Ltd. Common Shares Subject to the discussion below under “— Passive Foreign Investment Company Rules,” the gross amount of any distribution on Kyivstar Group Ltd. Common Shares that is made out of Kyivstar Group Ltd.’s current or accumulated earnings and profits (as determined for U.S. federal income tax purposes) generally will be taxable to a U.S. holder as ordinary dividend income on the date such distribution is actually or constructively received. Any such dividends generally will not be eligible for the dividends received deduction allowed to corporations in respect of dividends received from other U.S. corporations. To the extent that the amount of the distribution exceeds Kyivstar Group Ltd.’s current and accumulated earnings and profits (as determined under U.S. federal income tax principles), such excess amount will be treated first as a non -taxablereturn of capital to the extent of the U.S. holder’s tax basis in its Kyivstar Group Ltd. Common Shares, and thereafter as capital gain recognized on a sale or exchange. Dividends paid by Kyivstar Group Ltd. generally will be taxable to a non -corporateU.S. holder at the reduced rate normally applicable to long -termcapital gains, provided that Kyivstar Group Ltd. is considered a “qualified foreign corporation” and certain other requirements are met. A qualified foreign corporation includes a corporation the class of shares with respect to which a distribution is made are readily tradable on an established securities market in the United States. U.S. Treasury Department guidance indicates that Kyivstar Group Ltd. Common Shares, which are intended to be listed on the Nasdaq, will be readily tradable on an established securities