Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 160

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 160
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, the per share amount that would otherwise be received by Cohen Circle shareholders in connection with Cohen Circle’s liquidation may be reduced. Cohen Circle shareholders may be held liable for claims by third parties against Cohen Circle to the extent of distributions received by them upon redemption of their shares. If Cohen Circle is forced to enter into an insolvent liquidation, any distributions received by shareholders could be viewed as an unlawful payment if it were proved that immediately following the date on which the distribution was made, Cohen Circle was unable to pay its debts as they fall due in the ordinary course of business. As a result, a liquidator could seek to recover all amounts received by Cohen Circle shareholders. Furthermore, Cohen Circle’s directors may be viewed as having breached their fiduciary duties to Cohen Circle or its creditors and/or may have acted in bad faith, and thereby exposing themselves and Cohen Circle to claims, for paying public shareholders from the Trust Account prior to addressing the claims of creditors. Cohen Circle’s directors may decide not to enforce the indemnification obligations of the Sponsors, resulting in a reduction in the amount of funds in the Trust Account available for distribution to public shareholders. In the event that the proceeds in the Trust Account are reduced below the lesser of (i) $10.05 per public share and (ii) the actual amount per share held in the Trust Account as of the date of the liquidation of the Trust Account if less than $10.05 per public share due to reductions in the value of the trust assets, in each case net of the interest which 58 may be withdrawn to pay taxes, and the Sponsors assert that they are unable to satisfy its obligations or that it has no indemnification obligations related to a particular claim, Cohen Circle’s directors would determine whether to take legal action against the Sponsors to enforce its indemnification obligations. While Cohen Circle currently expects that its directors would take legal action on its behalf against the Sponsors to enforce its indemnification obligations to Cohen Circle, it is possible that Cohen Circle’s directors in exercising their business judgment and subject to their fiduciary duties may choose not to do so in any particular instance if, for example, the cost of such legal action is deemed by the directors to be too high relative to the amount recoverable or if the directors determine that a favorable outcome is not likely. If Cohen Circle’s directors choose not to enforce these indemnification obligations, the amount of funds in the Trust Account available for distribution to public shareholders may be reduced below $10.05 per public share. If Cohen Circle