Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 176

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 176
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 respect to their purchases and sales of Kyivstar Group Ltd.’s securities. 68 In addition, as a “foreign private issuer,” Kyivstar Group Ltd. is permitted to follow certain home country corporate governance practices in lieu of certain Nasdaq requirements. A foreign private issuer must disclose in its annual reports on Form 20 -Ffiled with the SEC each Nasdaq requirement with which it does not comply followed by a description of its applicable home country practice. Kyivstar Group Ltd. intends to follow home country practice in lieu of the following Nasdaq requirements: . Kyivstar Group Ltd. cannot give any assurances that it will follow these or other Nasdaq corporate governance requirements in the future and may therefore in the future rely on additional available Nasdaq exemptions that would allow Kyivstar Group Ltd. to follow its home country practice. Unlike the requirements of Nasdaq, Kyivstar Group Ltd. is not required, under the corporate governance practice and requirements in Bermuda, to have its board consist of a majority of independent directors, nor is Kyivstar Group Ltd. required to have a remuneration committee or a nomination or governance committee consisting entirely of independent directors, or have regularly scheduled executive sessions with only independent directors each year. If Kyivstar Group Ltd. decides to follow some or all of these home country practices, such home country practices may afford less protection to holders of Kyivstar Group Ltd.’s securities. For additional information, see the section of this proxy statement/prospectus entitled “ Management of Kyivstar Group Ltd. After the Business Combination — Foreign Private Issuer Exemption.” Kyivstar Group Ltd. could cease to be considered a “foreign private issuer” under current SEC rules and regulations if more than 50% of Kyivstar Group Ltd.’s outstanding voting securities become directly or indirectly held of record by U.S. holders and one of the following is true: (i) the majority of Kyivstar Group Ltd.’s directors or executive officers are U.S. citizens or residents; (ii) more than 50% of Kyivstar Group Ltd.’s assets are located in the United States; or (iii) Kyivstar Group Ltd.’s business is administered principally in the United States. If Kyivstar Group Ltd. loses its status as a foreign private issuer in the future, it will no longer be exempt from the rules described above and, among other things, will be required to file periodic reports and annual and quarterly financial statements as if it were a company incorporated in the