Geneva investors have approved a plan to swap debt for equity, in a bid to avoid receivership.
Nearly 80% of noteholders gave the go-ahead to the proposal to convert $4.4 million worth of subordinated notes into shares.
Without the swap, Geneva risked breaching the minimum capital ratio of 8%, which could have triggered receivership.
A total of 88 million shares will be issued to the noteholders at 5c a share.
