Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 108

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 108
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 32”), as Cohen Circle shareholders had the right to require Cohen Circle to redeem the Cohen Circle Class A Ordinary Shares and Cohen Circle had an irrevocable obligation to deliver cash or another financial instrument for such redemption.

60 b.To convert Cohen Circle’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 .The conversion of the warrants is based on a fair value as of August14, 2025 to anticipate the value as of Closing date. 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.Adjustments to the unaudited pro forma condensed combined financial information 3.1Adjustments to the unaudited pro forma condensed combined statement of financial position as of June 30, 2025 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 $10.40 per share. This reflects an income of $1million and an increase in cash from marketable securities held in the Trust Account of $1million, as well as an increase in debts and derivatives by $1million and a charge in accumulated deficit by $1million. The difference between the redemption liability and the Cohen Circle Class A Ordinary Share value in the statement of financial position is due to the difference between total interests accrued on the Trust Account as of June30, 2025 and expected total interests to be accrued up to the Closing Date. A2.To reflect the release of $238 million cash from marketable securities held in the Trust Account to cash and cash equivalents that becomes available at Closing of the Business Combination. The reclassification comes after the increase of additional income of $1million from the Trust Account investments from June30