Genius Group (GNS) said its Board has called for an EGM for shareholders to authorize the Board to carry out a share buyback of up to 20% of the issued share capital of the company, and to approve the creation of a new class of ordinary shares and preferred shares. The record date for the EGM will be February 24, 2025. Also, in light of the companys current share price below the exercise price of rights offering, the Board has voted to cancel the rights offering.
The company said it will continue with plan to increase Bitcoin Treasury via its reserves and other funding means available to it.
Shares of Genius Group are up 18% in pre-market trade on Wednesday.
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