Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 258

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 258
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’s financial statements from U.S. GAAP to IFRS for purposes of the unaudited pro forma condensed combined financial information, an adjustment is recorded to reclassify Cohen Circle Public Warrants to non -currentfinancial liabilities in accordance with IAS 32 and IFRS 9 Financial Instruments (“IFRS 9”). These warrants will be recorded in non -currentfinancial liabilities at fair value based on the market price of Cohen Circle’s Public Warrants .This adjustment will impact both Cohen Circle’s statement of financial position and Cohen Circle’s income statement for the change in fair value of the public warrants. c.Reflects the reclassification adjustments to align Cohen Circle’s historical financial statements from U.S. GAAP to IFRS and to ensure an alignment of presentation with VEON Holdings’ combined statement of financial position and statement of income. 3.Pro Forma Significant Assumptions 3.1 Available Cash as of Closing Pursuant to Business Combination Agreement, the Minimum Cash Condition (including the aggregate amount of cash available in the Trust Account as of Closing after taking into account all public shareholder redemptions as of Closing and any private placement financing, including any PIPE Investment) is at least $50 million. 3.2Minimum Equity holding Pursuant to Section 8.2(f) of the Business Combination Agreement, the number of Kyivstar Group Ltd. Common Shares to be issued to the Seller in consideration of the Business Combination shall not be less than 80% of the fully diluted share capital of Kyivstar Group Ltd. 3.3PIPE considerations As of the date of this proxy statement/prospectus, no amounts have been committed under any PIPE Investment. 4.Adjustments to the unaudited pro forma condensed combined financial information 4.1Adjustments to the unaudited pro forma condensed combined statement of financial position as of March 31, 202 5 The following adjustments have been reflected in the unaudited pro forma condensed combined statement of financial position: A1.To reflect the Cohen Circle Class A Ordinary Share redemption liability of $238 million reported within debts and derivatives based on a per share redemption price of $10.35 per share. This reflects an income of $2 million and an increase in cash from marketable securities held in the Trust Account of $2 million, as well as an increase in debts and derivatives by $2 million and a charge in accumulated deficit by $2 million. The difference between the redemption liability and the Cohen Circle Class A Ordinary Share value in the statement of