REG - Argo Blockchain PLC - Allotment of New Shares

Argo BlockchainAnnouncement

09/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220609:nRSI2338Oa&default-theme=true

RNS Number : 2338O  Argo Blockchain PLC  09 June 2022

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                          via Tancredi +44 203 434 2334

 Chief Executive
 finnCap Ltd
 Corporate Finance                   +44 207 220 0500

 Jonny Franklin-Adams

 Tim Harper

 Joint Corporate Broker

 Sunila de Silva
 Tennyson Securities
 Joint Corporate Broker              +44 207 186 9030

 Peter Krens
 OTC Markets
 Jonathan Dickson                    +44 204 526 4581

 jonathan@otcmarkets.com             +44 7731 815 896
 Tancredi Intelligent Communication

 UK & Europe Media Relations
 Emma Valgimigli                     +44 7727 180 873

 Fabio Galloni-Roversi Monaco        +44 7888 672 701

 Nasser Al-Sayed                     +44 7915 033 739

 argoblock@tancredigroup.com

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ALSSSAFAAEESESM