Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 92

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 92
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). The decision fully removed the restrictions on VEON’s corporate rights imposed by the Ukrainian courts on us and Ukraine Tower Company. See “ Business of Kyivstar and Certain Information About Kyivstar — Freezing of Corporate Rights in Kyivstar.” Following the decision of the Shevchenkivskyi District Court of Kyiv, we are continuing to work with our local custodian to remove any remaining restrictions in respect of corporate rights; however, there can be no assurance that such removal will be achieved and we cannot rule out the possibility that Ukrainian courts may in the future freeze, or impose the same or different restrictions on, our corporate rights. See “ Business of Kyivstar and Certain Information About Kyivstar — Blocking of Voting Rights of VEON in Kyivstar.” Amending sanctions legislation In April 2024, draft amendments to the Law of Ukraine “On Sanctions” of August14, 2014 were introduced in the Ukrainian Parliament (the “Sanctions Law Amendments”), which could be applicable to our business. Under the proposed Sanctions Law Amendments, the Ukrainian government may petition the relevant Ukrainian court to confiscate 100% of the corporate rights in any Ukrainian company if a person sanctioned by Ukraine, directly or indirectly holds a stake in such company, regardless of the percentage of the stake or the manner in which it is held. Following such confiscation, shares in such companies that are attributable to non -sanctionedpersons would be held in escrow and would eventually be redistributed to such non -sanctionedpersons upon application for redistribution. The voting and dividend rights of non -sanctionedpersons would be suspended from the moment the shares are placed into escrow until redistribution. If non -sanctionedpersons fail to apply for formalization of their ownership within five years from the confiscation, their shares would be transferred to the state of Ukraine without compensation. In August 2024, the Sanctions Law Amendments were withdrawn but the possibility cannot be excluded that similar proposals may be introduced in the Ukrainian Parliament at a later date. 23 Further, on January14, 2025, the Ukrainian government registered in the Parliament the Draft Law on Amendments to the Criminal Code of Ukraine and the Criminal Procedure Code of Ukraine and the Law of Ukraine “On Sanctions” regarding the establishment of liability for violation of special economic and other restrictive measures. Under the proposed laws, certain actions pertaining to the violation and circumvention of certain sanctions restrictions would be criminally punishable. As of the date of this proxy statement/prospectus