Genius Group Announces Cancellation of Extraordinary General Meeting Scheduled On 18 September 2024

Rhea-AI Summary

Genius Group (NYSE American: GNS), an AI-powered education company, has cancelled its Extraordinary General Meeting (EGM) scheduled for September 18, 2024. The meeting was originally planned to discuss a Proposed Share Consolidation. The board of directors made this decision after considering feedback from stakeholders and has chosen not to proceed with the share consolidation at this time. Shareholders are advised that the Notice of EGM has been withdrawn, and any previously submitted proxy forms will be cancelled. The company urges shareholders to read this announcement carefully and consult with financial advisors if they have any questions about the implications of this cancellation.

SINGAPORE, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI-powered education group, today announced cancellation of Extra Ordinary General Meeting scheduled on 18 September, 2024.

The board of directors (the “Board” or the “Directors”) of Genius Group Limited (the “Company”) refers to the Company’s Notice of Extraordinary General Meeting dated 16 August 2024 (“Notice of EGM”) convening an extraordinary general meeting to be held on 18 September 2024 at 4:00 PM (Singapore time) at Genius Central Singapore Pte Ltd, 7 Amoy Street #01-01 Far East Square Singapore 049949 (“EGM”) in relation to the Proposed Share Consolidation, as detailed in the Notice of EGM (all capitalized terms used and not defined herein are used as defined in the aforementioned Notice).

Upon further deliberation and following consideration of the feedback received from certain of the Company’s stakeholders, the Board has decided not to proceed with the Proposed Share Consolidation for the time being.

Accordingly, the Company wishes to withdraw its Notice of EGM, and shareholders of the company (“shareholders”) are to note that as at the date of this announcement, the EGM that was intended to be convened on 18 September 2024 has been cancelled.

Shareholders should take note that proxy forms already submitted in relation to the EGM will be cancelled.

Shareholders are advised to read this announcement and any further announcements by the Company carefully. Shareholders should consult their stockbrokers, bank managers, solicitors or other professional advisors if they have any doubt about the actions they should take.

About Genius Group

Genius Group (NYSE: GNS) is a leading provider of AI powered, digital-first 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.

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

MZ Group - MZ North America
(949) 259-4987
GNS@mzgroup.us
www.mzgroup.us

FAQ

Why did Genius Group (GNS) cancel its Extraordinary General Meeting on September 18, 2024?

Genius Group cancelled the EGM after considering feedback from stakeholders and deciding not to proceed with the Proposed Share Consolidation at this time.

What was the main agenda for Genius Group's (GNS) cancelled Extraordinary General Meeting?

The main agenda for the cancelled EGM was to discuss and vote on a Proposed Share Consolidation for Genius Group.

What should Genius Group (GNS) shareholders do with their proxy forms for the cancelled September 18, 2024 meeting?

Shareholders should note that all proxy forms submitted for the cancelled EGM will be cancelled and are no longer valid.

Will Genius Group (GNS) reschedule the Extraordinary General Meeting for the Proposed Share Consolidation?

The announcement does not mention rescheduling the EGM. The company stated it will not proceed with the Proposed Share Consolidation for the time being.