Genius Group Limited (NYSEAM:GNS) agreed to Spin-Off 97% stake in Entrepreneur Resorts Limited on January 18, 2022. All shareholders of Genius Group will receive 0.1832 shares in ERL. As of September 5, 2023, The process of the spinoff is now underway following approval by the Board at Genius Group?s Board Meeting on January 18, 2022. As of January 30, 2023, The transaction has been approved by the Board of Genius Group. Transaction will be subject to shareholder approval, NYSE, SEC approvals and possibly a court order. Genius Group will conduct a virtual investor meeting on February 15, 2023, to discuss about Details of the recently announced spin-off of Entrepreneur Resorts Ltd. As of March 13, 2023, Genius Group Limited will held general meeting of its shareholders on April 28, 2023. As of April 12, 2023, Shareholders meeting is scheduled to be held on May 16, 2023. As of May 16, 2023, Genius Group shareholders approved the deal. As of August 3, 2023, the transaction is approved by Singapore Court. As of August 7, 2023, Genius Group has set the record date for a full share count of its shares for the purpose of the distribution as August 31, 2023. Genius Group expects the spin off to be completed in Q3 this year. As of August 7, 2023, Genius Group has set the share distribution date of ERL on or about September 29, 2023. As of September 29, 2023, spin off is expected to close on October 2, 2023. VStock Transfer, LLC acted as a transfer agent to Genius Group Limited.

Genius Group Limited (NYSEAM:GNS) completed the Spin-Off 97% stake in Entrepreneur Resorts Limited on September 29, 2023.