Summary by Moomoo AI
Genius Group Limited, a foreign private issuer, has announced an Extraordinary General Meeting (EGM) to be held on September 18, 2024, at Genius Central Singapore Pte Ltd. The primary agenda for the EGM is to seek shareholder approval for a proposed share consolidation. The consolidation will combine every 3 to 100 ordinary shares into one consolidated share, with fractional shares to be disregarded or dealt with at the directors' discretion. This move follows a previous share consolidation completed on August 16, 2024. The board believes the consolidation will create a more effective capital structure and make the share price more attractive to institutional investors. The company has also made provisions for the reorganization of options, warrants, restricted stock units, and convertible loans in line with the consolidation. Shareholders are invited to submit questions by September 15, 2024, and may vote on the special resolution via proxy if they cannot attend the meeting in person.