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Genius Group ( NYSE: GNS ) Board approves a spinoff of subsidiary Entrepreneur Resorts to create shareholder value.
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Entrepreneur Resorts is a public listed company on the Seychelles MERJ Stock Exchange with a share price of $2.75 and market cap of $37M, with 97% of outstanding shares owned by Genius Group.
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The company was acquired in June 2020 in an all-share swap, with shareholders in ERL receiving shares in Genius Group.
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The process of the spinoff is now underway following approval by the Board at Genius Group’s Board Meeting on January 18, 2022.
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Stock climbs 18% pre-market
For further details see:
Genius Group up 18% on $37M spin off of Entrepreneur Resorts