Last checked at 5 Feb 2020 07:00
Press Release
5 February 2020
Argo Blockchain PLC
('Argo' or 'The Company')
Grant of Share Options
Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), announces that the Board has granted an award of 11,400,000 options over ordinary shares of £0.001 each in the Company (Ordinary Shares).
These options have been granted to the Company's management, executive and Board members as a long term incentive. These options have been granted from the pool of available options established under the Company's 2018 option plan, including lapsed options that were returned to the Company's option pool.
The options are priced at £0.07 per Ordinary Share, and will begin to vest three months after the date of the grant in equal monthly tranches over the next 21 months and are exercisable on or before February 4, 2030. The options were granted as follows:
Director/Senior Manager | Options |
Peter Wall | 5,700,000 |
Ian MacLeod | 1,900,000 |
Inderpreet Hothi | 1,662,500 |
Sebastien Chalus | 1,187,500 |
Matthew Shaw | 475,000 |
Timothy Le Druillenec | 475,000 |
Total | 11,400,000 |
Mike Edwards, the Company's former Executive Chairman, retains the 7,047,525 options over Ordinary Shares granted to Mr Edwards in July 2018, and which have already vested, for a period of three years from January 27, 2020. The remaining 3,281,500 unvested options lapsed on his departure, and were returned to the option pool under the Company's 2018 option plan. Details of the Company's option plan are set out in the Company's prospectus dated 30 July 2018. The options granted to Mr Edwards remain exercisable at a price of 16 pence per Ordinary Share.
Ian MacLeod, Argo's executive chairman, stated that: "The grant of these options aligns the interests of the Board and senior management with those of the Company's shareholders and incentivises increased profitability and the generation of long term shareholder value."
PDMR Notification
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||||||||
a) | Name | Peter Wall Ian MacLeod Inderpreet Hothi Sebastien Chalus Matthew Shaw Timothy Le Druillenec | |||||||||||||||||||||
2. | Reason for the Notification | ||||||||||||||||||||||
a) | Position/status | Directors and PDMRs of the Company | |||||||||||||||||||||
b) | Initial notification / Amendment | Initial notification | |||||||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||
a) | Name | Argo Blockchain PLC | |||||||||||||||||||||
b) | LEI | 213800WPCCYSDYY26J54 | |||||||||||||||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||||||||||||||
a) | Description of the Financial instrument, type of instrument | Options over Ordinary shares | |||||||||||||||||||||
| Identification Code | GB00BZ15CS02 | |||||||||||||||||||||
b) | Nature of the transaction | Grant of options over ordinary shares | |||||||||||||||||||||
c) | Price(s) and volume(s) |
| |||||||||||||||||||||
d) | Aggregated information: ·; Aggregated volume ·; Price |
11,400,000 Options over Ordinary Shares £0.07 per Ordinary Share | |||||||||||||||||||||
e) | Date of the transaction | February 5, 2020 | |||||||||||||||||||||
f) | Place of the Transaction | Not on a trading venue | |||||||||||||||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Matthew Shaw | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Director | ||||
b) | Initial notification / Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Argo Blockchain PLC | ||||
b) | LEI | 213800WPCCYSDYY26J54 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Options over Ordinary shares | ||||
| Identification Code | GB00BZ15CS02 | ||||
b) | Nature of the transaction | Grant of Options over Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: ·; Aggregated volume ·; Price |
1m Options over Ordinary Shares £0.16 per Ordinary Share | ||||
e) | Date of the transaction | 28 August 2019 | ||||
f) | Place of the Transaction | Not on a trading venue | ||||
This announcement contains inside information.
For further information please contact:
Argo Blockchain |
|
Peter Wall Chief Executive
Neil Thapar Financial Communications Adviser | via Tancredi +44 203 434 2334
+44 7876 455323 |
Mirabaud |
|
Corporate Broker Peter Krens | +44 203 167 7221 |
Tancredi Communication Media Relations |
|
Salamander Davoudi salamander@tancredigroup.com
Emma Valgimigli emma@tancredigroup.com | +44 7957 549 906
+44 7727 180 873 |
About Argo:
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB.
https://argoblockchain.com/
See Argo's largest facility in Quebec:
https://youtu.be/LDWWaZ75Zbk