RE: "significantly undervalued"13 May 2019 13:38
As a foundation stone of their proposed strategic co-operation, HIVE and Argo have conditionally agreed to a share swap arrangement, by which Argo will receive 16,321,281 HIVE common shares, representing 5% of the existing outstanding share capital in exchange for 44,062,500 ordinary shares in Argo, representing 15% of Argo's existing issued share capital.
The transaction values Argo shares at 11.6 pence per share, a 231% premium to Friday's closing Argo share price.