Position Mobile’s Fate Remains Uncertain: Winding Up, Court-Ordered Buy-Out Both Options in Next Year’s Trial | PR Newswire [Video]

, /PRNewswire/ — On October 29th, 2024, a Judge in the Financial Services Division of the Grand Court has ruled on a timetable to decide whether the company Position Mobile Ltd SEZC (‘Position Mobile’), a joint venture between a subsidiary company of Genimous Technology Co., Ltd. and Genimous Investment (Hong Kong) (collectively ‘Genimous’), and Technology Investment Consortium LLC (‘TIC’), should be wound up and, if so, on which grounds, or whether an alternative form of relief is more appropriate. One alternative relief at the court’s discretion is to order the Genimous entities to buy TIC’s shares at a valuation to be determined at trial. These matters regarding Position Mobile are set to be decided over a 12-day trial, in Q4 of 2025. Sources include judicial.ky and technologyinvestmentconsortium.com.

About TIC and Position Mobile: Position Mobile is a Cayman Islandscompany created to develop and market mobile apps. Technology Investment Consortium LLC is co-founder of and largest …