Genius Group Shareholders Approve Share Buyback and Share Consolidation

Rhea-AI Summary

Genius Group (NYSE American: GNS) held an Extraordinary General Meeting on February 16, 2023, where shareholders approved two key resolutions. The Board is authorized to execute a share repurchase mandate and a share consolidation within the next 12 months. CEO Roger Hamilton expressed gratitude for the shareholders' empowerment, emphasizing that these measures aim to protect and enhance shareholder value. The Company, an innovator in entrepreneurial education, serves a user base of 4.3 million globally. No specific timeline for implementing these resolutions has been set as they plan to monitor the market closely.

Positive

• Share repurchase and consolidation authorized, potentially enhancing shareholder value.
• CEO expresses confidence in shareholder support and future value enhancement.

Negative

• None.

SINGAPORE, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, held an Extraordinary General Meeting today, February 16, 2023, at 8.00am EST (9:00 p.m. Singapore Time).

At the meeting, shareholders voted for and passed the following resolutions:

• The Company Board has approval to execute a share repurchase mandate at such time that they may choose within the next 12 months.
  
• The Company Board has approval to execute a share consolidation at such time that they may choose within the next 12 months.
  

Roger Hamilton, CEO of Genius Group, said “The Board thanks Genius Group’s shareholders for empowering Genius Group with additional mechanisms that the Company can use to protect shareholders and enhance shareholder value. At this immediate time, we have not set any timeline for the share buyback and share consolidation. We plan to monitor and assess the situation regularly to action them at the appropriate time.”

About Genius Group

Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has a group user base of 4.3 million users in 200 countries, ranging from ages 0 to 100.

For more information, please visit https://www.geniusgroup.net/

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described in our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2021, filed with the SEC on May 13, 2022. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See “Forward-Looking Statements” below.

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.

Contacts

Investors:
Flora Hewitt, Vice President of Investor Relations and Mergers and Acquisitions
Email: investor@geniusgroup.net

Media Contacts: Adia PR
Email: gns@adiapr.co.uk

US Investors: 
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
GNS@redchip.com

FAQ

What did Genius Group approve in the February 16, 2023 meeting?

Genius Group's shareholders approved a share repurchase mandate and a share consolidation during the meeting on February 16, 2023.

How will the share buyback impact GNS stock?

The share buyback could potentially enhance GNS stock value by reducing the number of shares outstanding.

Is there a timeline for the share repurchase and consolidation by Genius Group?

No specific timeline has been set for the share repurchase and consolidation; the Board intends to monitor the situation continuously.

What is the purpose of Genius Group's share repurchase mandate?

The share repurchase mandate aims to protect shareholders and increase shareholder value.