SINGAPORE–(BUSINESS WIRE)–$GNS #GNS–The Board of Directors (the �Board) of Genius Group Limited (NYSE American: GNS) (Genius Group or the Company), a leading entrepreneur edtech and education group, approved at a meeting of the Board held on Wednesday 18th January 2023, an action plan to address alleged illegal short selling of its stock.
This action plan includes creating a Board-led Illegal Trading Task Force to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of Genius Group. This Task Force will be led by Timothy Murphy, a Genius Group Director and former Deputy Director of the F.B.I., Richard Berman, also a Genius Group Director and chair of the Companys Audit Committee, and Roger Hamilton, the CEO of Genius Group. The Company has been in communication with government regulatory authorities and is sharing information with these authorities to assist them.
Following proof from Warshaw Burstein, LLP and Christian Levine Law Group, with tracking from ShareIntel, that certain individuals and/or companies appear to have sold (but not delivered) a significant amount of the Companys ordinary shares, as part of a market manipulation scheme seeking to artificially depress the price of the Companys ordinary shares, the Board has also authorized the following actions:
The Board believes that these actions could deter any future manipulation of the market, through naked short selling of the Companys ordinary shares, as well as other actions that are in violation of market rules, and strengthen and streamline Genius Groups rapidly growing core business of delivering an entrepreneur education globally, which has historically been growing at more than 50% annually.
The Company plans to hold an Extraordinary General Meeting in the coming weeks to obtain shareholder approval of the above-mentioned actions, which require shareholder approval, as well as shareholder approval of a reverse stock split and/or stock buyback plan, all of which management believes will assist the Company in discouraging predatory and illegal trading activity, with respect to the Companys ordinary shares, and further protect shareholders interests.
Details of the Extraordinary General Meeting will be announced shortly.
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 todays market. The group has a group user base of 4.3 million users in 200 countries, ranging from ages 0 to 100.
Contacts
Investors:
Flora Hewitt, Vice President of Investor Relations and Mergers and Acquisitions
Email: investor@geniusgroup.net
Media: Adia PR
Email: gns@adiapr.co.uk
US Investors:
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
GNS@redchip.com
HOHHOT, CHINA - Media OutReach Newswire - 23 December 2024 - China's National Forestry and…
HONG KONG SAR - EQS Newswire - 23 December 2024 - Novautek Autonomous Driving Limited…
JAKARTA, INDONESIA - Media OutReach Newswire - 23 December 2024 - V-GREEN and PT Xanh…
Increase in opportunities predicted for high-speed optical transceivers and miniaturized connectivity solutions to address data-intensive…
HONG KONG SAR - Media OutReach Newswire - 23 December 2024 - DYXnet, a wholly-owned…
CAIRO, EGYPT - Media OutReach Newswire - 23 December 2024 - Eand, Novo Nordisk, BSH,…