Genius Group Announces Reverse Stock Split

Core Points - Genius Group Limited has announced a 1-for-10 reverse stock split of its ordinary shares, effective at 12:01 a.m. Eastern Time on August 16, 2024 [1][2] - The primary objective of the reverse stock split is to increase the per share market price to meet the NYSE's minimum price requirement for continued listing [2] - The reverse stock split was approved by stockholders at an extraordinary general meeting on February 16, 2023 [2] Summary of the Reverse Stock Split - Every ten ordinary shares will be consolidated into one ordinary share, with proportional adjustments made to equity awards and incentive plans [3] - The reverse stock split will not affect the number of authorized ordinary shares or the par value of the shares [3] - No fractional shares will be issued; any fractional shares will be rounded down and returned to treasury [4] Stockholder Information - Continental Stock Transfer & Trust is acting as the exchange agent for the reverse stock split, and stockholders will not need to take any action for their shares to be adjusted [5] Company Overview - Genius Group is a leading provider of AI-powered, digital-first education solutions, serving 5.4 million users in over 100 countries [6] - The company offers personalized curriculums for individuals, enterprises, and governments, including K-12 education, accredited university courses, and skills-based courses for entrepreneurs [6]