Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 307

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 307
---
i) at the Sale Effective Time, the Seller will sell to Kyivstar Group Ltd. all of the issued and outstanding equity of VEON Holdings in exchange for the Kyivstar Group Ltd. Common Shares and the Seller Loan Note, whereby VEON Holdings will become a direct, wholly owned subsidiary of Kyivstar Group Ltd., and (ii) at the Merger Effective Time, the Parties intend to effect the Merger upon the terms and subject to the conditions of the Business Combination Agreement and the Plan of Merger and in accordance with the Companies Act, whereby on the Closing Date, Merger Sub shall be merged with and into the Company, with the Company continuing as the surviving company of the Merger and a direct, wholly owned subsidiary of PubCo. No later than three business days following the satisfaction or waiver of the conditions set forth in the Business Combination Agreement (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of each such conditions), or at such other time, date and place as the Company and the Seller may mutually agree in writing, the Closing will occur by electronic exchange of documents and the Merger will be consummated by the filing of the Plan of Merger with the Registrar of Companies of the Cayman Islands in accordance with the Companies Act (As Revised) of the Cayman Islands (the Merger becoming effective at such date the Plan of Merger is duly registered with the Cayman Registrar (or such later date as may be agreed by each of the Parties and specified in such Plan of Merger in accordance with the Companies Act); provided that the Merger may not occur prior to the first business day following the Sale, and may not occur on a Friday. For more information about the transactions contemplated in the Business Combination Agreement, please see the section entitled “ The Business Combination Agreement and Transaction Documents.” The Business Combination Agreement is incorporated by reference into this proxy statement/prospectus, a copy of which is attached to this proxy statement/prospectus as Annex A. Significant Factors Affecting our Results of Operations The War Between Russia and Ukraine The war between Russia and Ukraine has had a significant impact on our business. On February 24, 2022, Russian military forces invaded Ukraine, leading to a series of challenges that have significantly affected our results for the years ended December 31, 2023 and 2024. We anticipate that our future results of operations will continue to be adversely impacted due to several factors related to the war, including volatility