RE: What a mess27 Nov 2025 16:00
From HL message centre.
What are my options?
Option 1 – Take no action. You will retain your existing ordinary shares. The ordinary shares will no longer be listed so you may have difficulty selling this investment at a reasonable price and, in some circumstances, it may be impossible to sell it at any price.
The company intends put in place a matched bargain facility to allow potential trading in Argo Blockchain shares for 6 months after the delisting. This facility looks to match buyers and sellers, so you’ll only be able to sell your shares if your sale order can be matched with a buy order. There is therefore no guarantee that you’ll be able to sell your shares. Any successful sale will be subject to our standard telephone dealing rates, a 1.5% transaction charge plus a £25 settlement charge by JP Jenkins. These will be reflected in the trade.
Option 2 - Sell your holding before the delisting. To sell your holding on the LSE before the delisting you must do so before 4:30pm on Monday 8 December 2025. The trade will be placed in accordance with our terms and conditions and subject to our standard commission rates. To sell these shares please visit our website at www.hl.co.uk. Please note that although Hargreaves Lansdown will endeavour to sell your shares it may not be possible to sell all, or even any, of your shares if a market for the shares no longer exists.
Option 3 - Convert your ordinary shares into ADRs. The company has a listing on the NASDAQ stock market in the US in the form of American Depositary Receipts (ADRs). Trading in Argo Blockchain ADRs is subject to our standard overseas dealing terms which are available here.
At present 10 ordinary shares are needed to obtain one ADR. On 12 December 2025 it is intended that this ratio will change so 2,160 ordinary shares will be needed to obtain one ADR, at which point every 216 existing ADRs will be consolidated and replaced by one new ADR.
JPMorgan Chase, Depositary of the ADR, will charge you USD0.05 per ADR issued. This fee applies whether you convert before or after the restructuring plan is approved. At the time of writing the ADRs have a market price of USD0.237 per ADR.
Argo Blockchain plc has been advised that the conversion of ordinary shares to the ADRs may give rise to a 1.5% charge to stamp duty reserve tax on the market value of the ordinary shares at the date of transfer.
If you would like to convert your shares to ADRs before the restructuring, you’ll need to give an instruction by noon on Friday 5 December 2025. You will receive 1 ADR for every 10 shares converted, but these ADRs will then be reduced on a 1 for 216 basis on 12 December 2025. If you convert under 2,160 shares you will therefore have your ADRs wiped out and receive a cash fraction in their place. You will still be charged for the ADR conversion.
Convert my shares into ADRs before the restructuring – Act by noon on Friday 5 December 2025
The easiest wa
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