Last checked at 9 Jun 2022 07:00
9 June 2022
Argo Blockchain PLC
("Argo" or "the Company")
Allotment of New Shares
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), announces the allotment of 8,147,831 new Ordinary Shares in connection with the Company's acquisition of DPN LLC.
In March 2021, the Company acquired DPN LLC along with the land held by DPN LLC for Helios, its flagship Bitcoin mining facility in Dickens County, Texas. The merger agreement with DPN LLC and the DPN LLC members (the "Agreement") contains certain milestones which trigger deferred consideration to be satisfied by the allotment of further ordinary shares of £0.001 each in the Company ("Ordinary Shares") to the DPN LLC members. Certain of the milestones have now been met and the Company is obliged to issue 8,147,831 new Ordinary Shares to the members of DPN LLC, credited as fully paid at a price per share of £0.4950. No further Ordinary Shares are owed to the DPN LLC members under the terms of the Agreement as the remaining milestones have not been met.
Application will be made for the 8,147,831 new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Admission is expected to occur at 8:00 a.m. on Monday, 13 June 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.
Following Admission, the total number of Ordinary Shares in issue will be 477,825,166 and the total number of voting rights will therefore be 477,825,166. This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Inside Information
This announcement contains inside information.
For further information please contact:
Argo Blockchain | |
Peter Wall Chief Executive | via Tancredi +44 203 434 2334
|
finnCap Ltd | |
Corporate Finance Jonny Franklin-Adams Tim Harper Joint Corporate Broker Sunila de Silva | +44 207 220 0500
|
Tennyson Securities | |
Joint Corporate Broker Peter Krens | +44 207 186 9030 |
OTC Markets | |
Jonathan Dickson jonathan@otcmarkets.com | +44 204 526 4581 +44 7731 815 896 |
Tancredi Intelligent Communication UK & Europe Media Relations | |
Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed argoblock@tancredigroup.com | +44 7727 180 873 +44 7888 672 701 +44 7915 033 739 |
About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With its flagship mining facility in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. For more information, visit www.argoblockchain.com.