REG - Argo Blockchain PLC - £7.8 million ($9.9 million) Placing

Argo BlockchainAnnouncement

08/01/2024 07:30

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RNS Number : 8691Y  Argo Blockchain PLC  08 January 2024

Press Release

8 January 2024

Argo Blockchain plc

("Argo" or "the Company")

£7.8 million ($9.9 million) Placing

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB;
NASDAQ: ARBK), is pleased to announce it has raised, subject to Admission,
gross proceeds of £7.8 million ($9.9 million) by the issue of 38,064,000 new
ordinary shares of £0.001 each in the Company ("Ordinary Shares") at a price
per share of £0.205 to certain institutional investors (the "Placing"). The
Placing price represents a discount of approximately 1 per cent to the 30
trading day VWAP of the Company's existing ordinary shares for the period
ended on 5 January 2024, and a discount of approximately 24 per cent to the
closing mid-price of the Company's ordinary shares on 5 January 2024. The new
Ordinary Shares being issued represent approximately 7.06 per cent of the
existing issued ordinary share capital of the Company prior to the Placing.

The net proceeds of the Placing are expected to be used by the Company for
working capital, the repayment of indebtedness, and for general corporate
purposes. The Placing is limited to those certain institutional investors that
have already subscribed and this announcement should not be considered an
offer or solicitation to purchase or subscribe for securities in the United
States.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares
in issue and application will be made for the new Ordinary Shares to be
admitted to the Official List and to trading on the Main Market of the London
Stock Exchange PLC. Admission is expected to occur, and dealings in the new
Ordinary Shares commence, on 11 January 2024.

Tennyson Securities (a trading name of Shard Capital Partners LLP) acted as
the Company's agent for the Placing.

Total Voting Rights

Following both the Private Placement Admission and the previously announced
PSU Admission, the Company will have a total of 577,001,363 Ordinary Shares in
issue. No Ordinary Shares are held in treasury. The above figure may be used
by the Company's shareholders as the denominator for the calculations by which
they can determine whether they are required to notify their interest in, or a
change of their interest in, the Company under the FCA Disclosure Guidance and
Transparency Rules.

This announcement contains inside information.

For further information please contact:

 Argo Blockchain
 Investor Relations                  ir@argoblockchain.com
 Tennyson Securities
 Corporate Broker                    +44 207 186 9030

 Peter Krens
 Fortified Securities
 Joint Broker                        +44 7493 989014

 Guy Wheatley, CFA                   guy.wheatley@fortifiedsecurities.com
 Tancredi Intelligent Communication   argoblock@tancredigroup.com

 UK & Europe Media Relations

 

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain
technology company focused on large-scale cryptocurrency mining. With mining
facilities in Quebec, mining operations 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.
For more information, visit (http://www.argoblockchain.com/)
www.argoblockchain.com (http://www.argoblockchain.com/) .

 

 

 

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