Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 176

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 176
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 the requirement that a majority of its board of directors shall consist of independent directors and the requirement that its nominating and corporate governance committee and compensation committee shall be composed entirely of independent directors. Kyivstar Group Ltd. currently intends to take advantage of certain of the exemptions from the Nasdaq corporate governance standards available to controlled companies, and therefore Kyivstar Group Ltd.’s shareholders may not have the same protection afforded to them as shareholders of companies that are subject to these corporate governance requirements. See “ Management of Kyivstar Group Ltd. after the Business Combination.” The reduced public company reporting requirements applicable to “ emerging growth companies ” may make Kyivstar Group Ltd. Common Shares less attractive to investors. Kyivstar Group Ltd. qualifies as an “emerging growth company,” as defined in the JOBS Act. While Kyivstar Group Ltd. remains an emerging growth company, it is permitted to and plans to rely on exemptions from certain disclosure requirements that are applicable to other public companies that are not emerging growth companies. These provisions include: (i) an exemption from compliance with the auditor attestation requirement in the assessment of Kyivstar Group Ltd.’s internal control over financial reporting pursuant to Section 404 of the Sarbanes -OxleyAct, (ii) not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements, (iii) reduced disclosure obligations regarding executive compensation arrangements in Kyivstar Group Ltd.’s periodic reports, registration statements and proxy statements, and (iv) exemptions from the requirements of holding a non -bindingadvisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. As a result, the information Kyivstar Group Ltd. provides will be different than the information that is available with respect to other public companies that are not emerging growth companies. In addition, Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the exemption from complying with new or revised accounting standards provided in Section 7(a)(2)(B) of the Securities Act as long as Kyivstar Group Ltd. is an emerging growth company. An emerging growth company can therefore delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non -emerginggrowth companies, but