Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 185

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 185
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 a privately held business, Kyivstar has not been required to comply with certain corporate governance and financial reporting practices and policies required of a publicly traded company. As a publicly traded company, Kyivstar Group Ltd. will incur significant legal, accounting and other expenses that Kyivstar was not required to incur in the recent past. In addition, new and changing laws, regulations and standards relating to corporate governance and public disclosure, including the Dodd Frank Wall Street Reform and Consumer Protection Act and the rules and regulations promulgated and to be promulgated thereunder, as well as under the Sarbanes -OxleyAct, the JOBS Act, and the rules and regulations of the SEC and national securities exchanges have created uncertainty for public companies and increased the costs and the time that Kyivstar Group Ltd.’s Board and management must devote to complying with these rules and regulations. Kyivstar Group Ltd.’s management expects these rules and regulations to increase its legal and financial compliance costs and lead to a diversion of management time and attention from revenue generating activities. Furthermore, the need to establish or and further develop the corporate infrastructure demanded of a public company may divert management’s attention from its focus on Kyivstar’s business strategy, which could prevent Kyivstar from improving its business, results of operations and financial condition. Kyivstar has made, and will continue to make, changes to its internal controls and procedures for financial reporting and accounting systems to meet its reporting obligations as a publicly traded company. However, the measures it takes may not be sufficient to satisfy Kyivstar Group Ltd.’s obligations as a publicly traded company. 69 If Kyivstar Group Ltd. is unable to maintain an effective system of internal controls and compliance, its business and reputation could be adversely affected. While Kyivstar Group Ltd. manages regulatory compliance by monitoring and evaluating its internal controls to ensure that it is in compliance with all relevant statutory and regulatory requirements, there can be no assurance that deficiencies in its internal controls and compliances will not arise, or that it will be able to implement, and continue to maintain, adequate measures to rectify or mitigate any such deficiencies in its internal controls, in a timely manner or at all. There are inherent limitations to the effectiveness of any system of controls and procedures, including the possibility of human error, the circumvention or overriding of the controls and procedures and reasonable resource constraints. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future