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This from the AGM - This resolution was passed at the AGM on 25 June: 8. Cancellation of share premium account This resolution seeks, subject to confirmation of the court, to cancel the Company’s share premium account and credit the amount so cancelled to a reserve. The share premium account (which is set out in the balance sheet provided in the annual report and audited accounts of the Group for the financial period ended 31 December 2019) is classified as an ‘undistributable reserve’ and presents a significant impediment to the Company’s ability to make any form of distribution.
The reduction of capital is being proposed so as to give the company the potential to make a distribution in the future should the Company be in a proper financial and legal position to do so. Currently the Company does not have the distributable reserves from which to make a distribution however, the Company is seeking the approval of this resolution in order to have the ability to do so in the future.
Hi all
November is looking like the perfect storm for Argo, BTC over $13k, difficulty looking to drop by 13% (https://diff.cryptothis.com/) and hashrate around 100..
Apart from the SP, everything is looking very good.
stay safe
Osa did say that in a recent interview..
Very good news, exciting times ahead with two big finance facilities
£27k buy just gone through and no movement in SP, this is crazy
Morning Trigger
Peter was asked what his 3 year plan was and i am pretty certain he said , at least 100mw in next three years and to be the largest listed plc in the world .
Reference the data centres, we think as a group that the cost would be around £6m with £4m being taken from the deposit they have with gpu and £1m from the loan note and a bit from the cash reserves, but again, this only our educated guess. Peter didnt confirm or deny, but seemed very bullish on the potential cost saving from the acquisition.
Records keep getting broken
https://www.coindesk.com/grayscale-announces-best-ever-quarter-with-over-1b-raised?amp=1&__twitter_impression=true
Was lucky enough to take part in a call last night with Peter Wall, it seems there are some exciting things in the pipeline, he didnt reveal much, but he seemed very positive about the next 8 weeks.. I have a lot of time for Peter, so i dont think he was giving us lip service .
Also as a group we have been investigating further the possible GPU deal. It does appear that there could be scope to take on other miners machines and expand capacity 3 fold, but again this is only our research and Peter couldnt comment on our findings..
But the future looks good..