Genius Group calls EGM to approve share buyback, cancels rights offering.
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Genius Group Limited has called an Extraordinary General Meeting (EGM) to approve a share buyback of up to 20% of its issued share capital and to create new classes of shares. The company has also canceled its rights offering due to current share prices being below the exercise price.
February 12, 2025 | 1:15 pm
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Genius Group is planning a share buyback of up to 20% of its issued share capital and has canceled its rights offering due to current share prices being below the exercise price.
The announcement of a share buyback is generally perceived positively by investors as it indicates the company believes its shares are undervalued. Canceling the rights offering due to low share prices suggests a strategic move to avoid dilution at unfavorable terms. These actions are likely to have a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100