Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 441

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 441
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 providing that the valuation assumes a certain exchange rate. On December 27, 2024, Rothschild & Co, on behalf of VEON, provided representatives of Cohen Circle with a revised draft of the LOI, reflecting (i) an increase to the valuation in respect of the free flow cash generated by Kyivstar during the period between signing and closing and (ii) restructuring of the founder shares so that (x) 2,155,000 founder shares would be forfeit and (y) providing that (1) 4,312,500 of the remaining founder shares would be locked up until the earlier of the first anniversary of the closing or such time as the stock proceeds exceeds $12.00 for 20 out of any 30 consecutive trading days commencing at least 150 days after the closing and (2) dividing the remainer into two equal tranches of 718,750shares that would be locked -upuntil share price meets or exceeds $15.00 and $17.00, respectively (until the second and fifth anniversary of the closing, respectively). On December 30, 2024, representatives of Rothschild & Co, Ms. Cohen and Ms. Abrams had a teleconference during to discuss certain aspects of the LOI, including the valuation, the cash adjustment, the minimum cash condition and the founder shares. On December 30, 2024, Mr. Jagota provided Rothschild & Co with a revised draft of the LOI providing for a two -waycash adjustment to be agreed as part of the business combination agreement and revising the lock -upapplicable to the rollover equity holders of VEON Holdings and to the initial tranche of founder shares to the earlier of $12.00 for 20 out of any 30 consecutive trading days and 180 days after the closing (but no earlier than 90 days after the closing). On January 2, 2025, certain representatives of Rothschild & Co and Cohen Circle conducted a teleconference to discuss certain aspects of the LOI, including the cash adjustment and the minimum cash condition. On January 3, 2025, Rothschild & Co, on behalf of VEON, provided Cohen Circle with a revised draft of the LOI, reflecting (i) increasing the price -basedtrigger for the lock -upto $13.50 and (ii) providing that any founder shares in the $15 and $20 tranches that do not reach the required price -basedtriggers within the specified time frame