REG - Argo Blockchain PLC - Appointment of CEO and PDMR Notification

Argo BlockchainAnnouncement

27/11/2023 07:00

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RNS Number : 6730U  Argo Blockchain PLC  27 November 2023

Press Release

27 November 2023

Argo Blockchain plc

("Argo" or "the Company")

Appointment of Chief Executive Officer and PDMR Notification

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB;
NASDAQ: ARBK), is pleased to announce that it has appointed Thomas Chippas as
Chief Executive Officer and Director with immediate effect.

Thomas Chippas, most recently the Chief Executive Officer of CBOE Digital and
a former member of its Board of Directors, is a New York-based executive with
significant experience in digital assets, technology and financial services.
He has previously held the positions of Chief Executive Officer of Citadel
Technology LLC, Chief Operating Officer of Axoni and Managing Director of
Citigroup, Barclays and Deutsche Bank. He also serves as a director of TS
Imagine.

Argo's chairman, Matthew Shaw said, "We are excited to welcome Tom to the Argo
team. Tom is a proven technology and financial leader who will work with the
Argo leadership team to drive operational excellence and stakeholder value."
Mr. Shaw continued, "This appointment comes at a transformational time and
Argo will be well served by Tom's ability to take advantage of the
opportunities that lie ahead."

Thomas Chippas said, "I am honored and excited to join Argo. The pace of
innovation in the Bitcoin mining industry continues to increase as miners seek
ever greater efficiency and capacity in preparation for the Bitcoin halving
and beyond. Together with the Argo team, I look forward to pursuing the
opportunities ahead."

In connection with the appointment, the Company has awarded 2,850,000
performance share units relating to the Company's American Depositary Shares
("PSUs") to Thomas Chippas. In accordance with the Company's remuneration
policy, which applies to the Company's CEO, the PSUs contain performance
conditions relevant to Mr. Chippas' role. The PSUs vest over a three-year
period, with first vesting occurring twelve months from the date of grant (at
which point up to one-third vest), the second vesting occurring 24 months from
the date of grant (at which point up to a further third vest) and the third
vesting occurring 36 months from date of grant (at which point up to the final
third vest), subject to the continued employment of Mr. Chippas and
satisfaction of the performance conditions. If the performance conditions are
not satisfied at particular vesting dates, but are subsequently satisfied, the
relevant fraction of PSUs will vest.

The Board of Directors of the Company intends to grant further PSUs to Mr.
Chippas on the first and second anniversary of his appointment subject to the
limitations imposed by Argo's shareholder-approved remuneration policy and its
authority to allot and issue new securities.

This announcement contains inside information.

 

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                                                         Thomas Chippas
 2.  Reason for the Notification
 a)  Position/status                                              PDMR
 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  PSUs in respect of American Depositary Shares
     Identification Code                                          GB00BZ15CS02
 b)  Nature of the transaction                                    Grant of PSUs in respect of American Depositary Shares
 c)  Price(s) and volume(s)                                       Price(s)    Volume(s)
                                                                  PSUs - N/A  2,850,000ADS
 d)  Aggregated information:                                       N/A

     Aggregated volume

     Price
 e)  Date of the transaction                                      27 November 2023
 f)  Place of the Transaction                                     Not on a trading venue

d)

Aggregated information:

Aggregated volume

Price

 N/A

e)

Date of the transaction

27 November 2023

f)

Place of the Transaction

Not on a trading venue

 

 

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

 UK & Europe Media Relations
 Salamander Davoudi                   argoblock@tancredigroup.com

 Helen Humphrey

 

Forward-Looking Statements

 

This announcement contains inside information and includes forward-looking
statements which reflect the Company's current views, interpretations, beliefs
or expectations with respect to the Company's financial performance, business
strategy and plans and objectives of management for future operations. These
statements include forward-looking statements both with respect to the Company
and the sector and industry in which the Company operates. Statements which
include the words "remains confident", "expects", "intends", "plans",
"believes", "projects", "anticipates", "will", "targets", "aims", "may",
"would", "could", "continue", "estimate", "future", "opportunity", "potential"
or, in each case, their negatives, and similar statements of a future or
forward-looking nature identify forward-looking statements. All
forward-looking statements address matters that involve risks and
uncertainties because they relate to events that may or may not occur in the
future. Forward-looking statements are not guarantees of future performance.
Accordingly, there are or will be important factors that could cause the
Company's actual results, prospects and performance to differ materially from
those indicated in these statements. In addition, even if the Company's actual
results, prospects and performance are consistent with the forward-looking
statements contained in this document, those results may not be indicative of
results in subsequent periods. These forward-looking statements speak only as
of the date of this announcement. Subject to any obligations under the
Prospectus Regulation Rules, the Market Abuse Regulation, the Listing Rules
and the Disclosure and Transparency Rules and except as required by the FCA,
the London Stock Exchange, the City Code or applicable law and regulations,
the Company undertakes no obligation publicly to update or review any
forward-looking statement, whether as a result of new information, future
developments or otherwise. For a more complete discussion of factors that
could cause our actual results to differ from those described in this
announcement, please refer to the filings that Company makes from time to time
with the United States Securities and Exchange Commission and the United
Kingdom Financial Conduct Authority, including the section entitled "Risk
Factors" in the Company's Annual Report on Form 20-F.

 

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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