BuybackJun 15, 2026, 08:46 AM
Genius Group Buys Back 6.6M Shares, Targets 43.3M Total Reduction
AI Summary
Genius Group Limited announced the completion of its first tranche of share buyback, repurchasing 6,600,000 Class A Ordinary Shares. This action represents 50% of the Board-authorized mandate and is intended to reduce the Company's issued share capital. The buyback was executed at a price below recent trading levels, aiming to provide immediate accretion to Net Asset Value per Share (NAVPS). The Company also identified an additional 36.7 million shares for potential removal, bringing the total targeted reduction to 43.3 million shares, or approximately 36% of the public float. A further buyback mandate will be proposed at the upcoming AGM.
Key Highlights
- Genius Group bought back 6,600,000 Class A Ordinary Shares in a privately negotiated transaction.
- This buyback represents 50% of the 13.2 million share buyback authorized by the Board on June 7, 2026.
- The Company intends to cancel the repurchased shares, reducing issued share capital.
- Genius Group has identified an additional 36.7 million shares targeted for removal from issued capital.
- The Company aims to remove up to 43.3 million shares in total, representing approximately 36% of the public float.
- Further buyback mandate of up to 20% of issued shares will be proposed at the AGM on July 7, 2026.
Price Impact
More from GNS