Here’s the original strategic partnership announcement:
No word yet on where Sprint Capital Partners sits in all of this Genius calamity.
Who controls them, what are the legal connections, what payments from Tali - or issues of new shares - took place, what does the partnership agreement say (and the subsequent expansion of the agreement on 4 August 2023 say) about performance default by a contracting party or it’s affiliate, etc.
It is important because Genius (now called Vertical 4 Pty Ltd and in administration) is Sprint’s “affiliate” and by virtue of the partnership with Tali, Sprint now holds (at last update) 16.99% of Tali shares:
Tali directors need to update the market shortly with much more detail than the bland statement today (which came days late - the media have been across this mess for up to a week already).
As of today, media reports 25 Genius childcare centres under administration! Zero chance imo of any sales let alone revenue for Tali products coming our way.
Here’s the original strategic partnership announcement:No word...
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