Genius Group calls EGM to approve share buyback, cancels rights offering.
Genius Group (NYSE: GNS) has announced significant corporate actions, including calling an Extraordinary General Meeting (EGM) to authorize a share buyback program of up to 20% of its issued share capital. The company has also canceled its previously announced rights offering due to the current share price being below the exercise price.
The Board noted that GNS's current market capitalization is 50% of its Bitcoin Treasury value and 30% of the company's net asset value. The EGM, scheduled with a record date of February 24, 2025, will vote on three key items: the share buyback authorization, approval for a new class of preference shares with dividend rights, and approval for a new class of ordinary shares carrying 10 votes per share.
The company plans to continue increasing its Bitcoin Treasury through reserves and alternative funding methods. All previously exercised offering rights will expire without value, and subscription payments will be returned to holders.
Genius Group (NYSE: GNS) ha annunciato importanti azioni aziendali, tra cui la convocazione di un'Assemblea Generale Straordinaria (EGM) per autorizzare un programma di riacquisto di azioni fino al 20% del capitale sociale emesso. L'azienda ha anche annullato l'offerta di diritti precedentemente annunciata a causa del fatto che il prezzo delle azioni attuale è al di sotto del prezzo di esercizio.
Il Consiglio ha osservato che la capitalizzazione di mercato attuale di GNS è pari al 50% del valore della sua Tesoreria Bitcoin e al 30% del valore netto dell'azienda. L'EGM, programmata con una data di registrazione del 24 febbraio 2025, voterà su tre punti chiave: l'autorizzazione al riacquisto di azioni, l'approvazione di una nuova classe di azioni privilegiate con diritti di dividendo e l'approvazione di una nuova classe di azioni ordinarie con diritto a 10 voti per azione.
L'azienda prevede di continuare ad aumentare la sua Tesoreria Bitcoin attraverso riserve e metodi di finanziamento alternativi. Tutti i diritti di offerta precedentemente esercitati scadranno senza valore e i pagamenti di sottoscrizione saranno restituiti ai detentori.
Genius Group (NYSE: GNS) ha anunciado acciones corporativas significativas, incluyendo la convocatoria de una Junta General Extraordinaria (EGM) para autorizar un programa de recompra de acciones de hasta el 20% de su capital social emitido. La compañía también ha cancelado su oferta de derechos previamente anunciada debido a que el precio actual de las acciones está por debajo del precio de ejercicio.
La Junta observó que la capitalización de mercado actual de GNS es el 50% del valor de su Tesorería de Bitcoin y el 30% del valor neto de la empresa. La EGM, programada con una fecha de registro del 24 de febrero de 2025, votará sobre tres puntos clave: la autorización para la recompra de acciones, la aprobación de una nueva clase de acciones preferentes con derechos de dividendo, y la aprobación de una nueva clase de acciones ordinarias que otorgan 10 votos por acción.
La empresa planea continuar aumentando su Tesorería de Bitcoin a través de reservas y métodos de financiamiento alternativos. Todos los derechos de oferta ejercidos previamente caducarán sin valor, y los pagos de suscripción serán devueltos a los titulares.
지니어스 그룹 (NYSE: GNS)는 발행 주식 자본의 최대 20%에 해당하는 자사주 매입 프로그램을 승인하기 위해 임시 주주총회를 소집한다고 발표했습니다. 회사는 현재 주가가 행사 가격보다 낮기 때문에 이전에 발표한 권리 공모를 취소했습니다.
이사회는 GNS의 현재 시장 자본금이 비트코인 재무 가치의 50% 및 회사의 순자산 가치의 30%에 해당한다고 언급했습니다. 2025년 2월 24일로 예정된 EGM은 세 가지 주요 항목에 대해 투표할 예정입니다: 자사주 매입 승인, 배당권이 있는 새로운 종류의 우선주 승인, 그리고 주당 10표를 부여하는 새로운 일반주 승인입니다.
회사는 비트코인 재무를 유지하고 대체 자금 조달 방법을 통해 계속해서 증가시킬 계획입니다. 이전에 행사된 모든 공모 권리는 가치 없이 만료되며, 구독료는 보유자에게 반환됩니다.
Genius Group (NYSE: GNS) a annoncé des mesures corporatives significatives, y compris la convocation d'une Assemblée Générale Extraordinaire (AGE) pour autoriser un programme de rachat d'actions pouvant atteindre 20% de son capital social émis. L'entreprise a également annulé son offre de droits précédemment annoncée en raison du fait que le prix actuel des actions est inférieur au prix d'exercice.
Le Conseil a noté que la capitalisation boursière actuelle de GNS représente 50% de la valeur de son Trésor Bitcoin et 30% de la valeur nette de l'entreprise. L'AGE, prévue avec une date d'enregistrement du 24 février 2025, votera sur trois points clés : l'autorisation de rachat d'actions, l'approbation d'une nouvelle catégorie d'actions privilégiées avec droits de dividende, et l'approbation d'une nouvelle catégorie d'actions ordinaires donnant droit à 10 voix par action.
L'entreprise prévoit de continuer à augmenter son Trésor Bitcoin grâce à des réserves et des méthodes de financement alternatives. Tous les droits d'offre précédemment exercés expireront sans valeur et les paiements de souscription seront retournés aux titulaires.
Genius Group (NYSE: GNS) hat bedeutende Unternehmensmaßnahmen angekündigt, darunter die Einberufung einer außerordentlichen Hauptversammlung (EGM), um ein Aktienrückkaufprogramm von bis zu 20% des ausgegebenen Aktienkapitals zu genehmigen. Das Unternehmen hat auch das zuvor angekündigte Bezugsangebot aufgrund des aktuellen Aktienkurses, der unter dem Ausübungspreis liegt, abgesagt.
Der Vorstand bemerkte, dass die aktuelle Marktkapitalisierung von GNS 50% des Wertes seiner Bitcoin-Treasury und 30% des Nettovermögens des Unternehmens beträgt. Die EGM, die mit einem Stichtag vom 24. Februar 2025 geplant ist, wird über drei zentrale Punkte abstimmen: die Genehmigung des Aktienrückkaufs, die Genehmigung einer neuen Klasse von Vorzugsaktien mit Dividendenrechten und die Genehmigung einer neuen Klasse von Stammaktien mit 10 Stimmen pro Aktie.
Das Unternehmen plant, seine Bitcoin-Treasury weiterhin durch Rücklagen und alternative Finanzierungswege zu erhöhen. Alle zuvor ausgeübten Bezugsrechte verfallen ohne Wert und die Zeichnungszahlungen werden an die Inhaber zurückerstattet.
- Market cap currently at 50% discount to Bitcoin Treasury value
- Planned share buyback of up to 20% of issued shares to support stock price
- Company maintains strong Bitcoin Treasury position
- Cancellation of planned rights offering due to low share price
- Potential shareholder dilution from new share classes
- Stock trading significantly below net asset value (70% discount)
Insights
The announced corporate actions represent a complex strategic pivot that could significantly impact Genius Group's capital structure and shareholder value. The cancellation of the rights offering, while potentially disappointing for some investors, demonstrates management's responsiveness to market conditions and commitment to avoiding dilution at current price levels.
The proposed 20% share buyback is particularly significant given that the company's market capitalization is currently just 50% of its Bitcoin Treasury value. This substantial discount to asset value creates an compelling opportunity for value creation through buybacks, effectively allowing the company to acquire its Bitcoin exposure at a 50% discount through share repurchases.
The introduction of new share classes warrants careful attention:
- The proposed preferred shares with dividend rights could provide a more stable income stream for yield-seeking investors, potentially broadening the investor base
- The new class of ordinary shares with 10x voting rights signals a potential shift toward concentrated control, which could streamline decision-making but may raise governance concerns
The company's decision to maintain its Bitcoin Treasury strategy while exploring alternative funding mechanisms demonstrates a balanced approach to capital allocation. The current market valuation at 30% of net asset value suggests significant potential for price discovery, particularly if the buyback program successfully reduces the float and increases market efficiency.
The timing of these corporate actions, coinciding with the company's growth plans for 2025, indicates a strategic effort to align corporate structure with long-term objectives. However, shareholders should carefully consider the implications of the new share classes, as they could fundamentally alter the company's governance dynamics and shareholder rights structure.
SINGAPORE, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI-powered, Bitcoin-first education group, announced today that its Board of Directors (the “Board”) has called for an EGM for shareholders to authorize the Board to carry out a share buyback of up to
In light of the Company’s current share price below the exercise price of its previously announced rights offering, the Board has also voted to cancel the rights offering at this time. The Company will continue with its plan to increase its Bitcoin Treasury via its reserves and other funding means available to it.
All affected offering rights exercised by Holders will expire without value and all subscription payments received from Holders that exercised offering rights will be returned by the Subscription Agent promptly, without interest or penalty.
Genius Group CEO, Roger Hamilton, said "At Genius Group’s current share price, its market capitalization is
“We have a strong growth plan for profitable growth in 2025, and we believe that with the support of our long term shareholders at our upcoming EGM we will be well positioned to build our company value relative to our asset and treasury growth.”
Items to be voted on by shareholders at the EGM include:
- Approval for the Board to buy back up to
20% of the Company’s issued share capital, in the event of the Company’s share price dropping to an excessively low level relative to the Company’s Bitcoin Treasury value and net asset value. - Approval for the Company’s Constitution to be amended, to permit the issuance of a new class of preference shares with dividends payable; the additional terms of which will be determined in due course.
- Approval for the Company’s Constitution to be amended, to permit the issuance of a new class of ordinary shares that will carry 10 votes per share; the additional terms of which will be determined in due course.
The record date for the upcoming EGM will be February 24, 2025.
About Genius Group
Genius Group (NYSE: GNS) is a Bitcoin-first business delivering AI powered, education and acceleration solutions for the future of work. Genius Group serves 5.4 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level. To learn more, please visit www.geniusgroup.net.
For more information, please visit https://www.geniusgroup.net/
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will”, “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
Contacts
MZ Group - MZ North America
(949) 259-4987
GNS@mzgroup.us
www.mzgroup.us
FAQ
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