Genius Group Shareholders Approve Spin Off of Entrepreneur Resorts Limited and New Constitution
May 16 2023 - 8:30AM
Business Wire
Genius Group Limited (NYSE American: GNS) (“Genius Group” or the
“Company”), a leading entrepreneur edtech and education group, held
an Extraordinary General Meeting today, May 16, 2023, at 8:00 a.m.
ET (8:00 p.m. Singapore Time).
At the meeting, shareholders voted for and passed the following
resolutions:
- The capital reduction and distribution of shares in
Entrepreneur Resorts Limited to shareholders
For
Against
Abstain
Total Shares Voted
16,928,902
(93.68%)
1,123,872
(6.22%)
17,596
(0.10%)
18,070,370
- The adoption of the new constitution
For
Against
Abstain
Total Shares Voted
16,877,846
(93.40%)
1,174,148
(6.50%)
18,377
(0.10%)
18,070,370
Now that both resolutions are passed, the process for the spin
off of Entrepreneur Resorts Limited will continue as planned with a
court approval in Singapore and the NYSE process. We expect the
spin off to be completed in Q3 this year.
Roger Hamilton, CEO of Genius Group, said, “The Board thanks
Genius Group’s shareholders for passing those two resolutions which
will enable Genius Group and Entrepreneur Resorts Limited’s
management teams to streamline operations and focus on their
respective business models more effectively.”
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230516005552/en/
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
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