Genius Group Limited (GNS) has released an update.
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Genius Group Limited’s Board of Directors has approved significant resolutions to safeguard shareholder interests amidst control risks linked to the FatBrain AI transaction. The Board sanctioned the issuance of 5 million additional shares to CEO Roger Hamilton, increasing his stake to 24.6%, and initiated legal actions to address the challenges posed by the transaction, particularly involving 7.4 million shares under dispute. These moves are aimed at ensuring compliance with financing agreements and maintaining corporate governance standards.
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