REG - Argo Blockchain PLC - Appointment of Chief Executive Officer

Argo BlockchainAnnouncement

24/03/2025 07:15

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RNS Number : 8350B  Argo Blockchain PLC  24 March 2025

Press Release

 

24 March 2025

 

Argo Blockchain plc

 

("Argo" or "the Company")

 

Appointment of Chief Executive Officer and PDMR Notification

 

Argo Blockchain plc, (LSE: ARB; NASDAQ: ARBK), is pleased to announce that it
has appointed Justin Nolan as Chief Executive Officer and Director with effect
as of 22 March 2025.

 

Justin Nolan most recently was Chief Executive Officer at Arkon Energy, a
digital infrastructure company. Prior to his role at Arkon Energy, Mr. Nolan
served as Chief Growth Officer at Argo. In this capacity, he played a pivotal
role in expanding the Company's operations, including the development of the
Helios project. Earlier in his career, Nolan co-founded and led DPN LLC, which
was instrumental in the initial development of the Helios project before its
acquisition by Argo Blockchain in March 2021.

 

Argo's chairman, Matthew Shaw said, "We are delighted to welcome Justin back
to Argo at this pivotal time for the Company. His deep industry expertise,
strategic vision, and leadership in scaling mining operations, including his
previous contributions to the Helios project, make him the ideal leader for
our next phase of growth. Under his guidance, we look forward to further
strengthening Argo's market position and operational efficiency."

 

Justin Nolan said, "I am honored to rejoin Argo as CEO and lead the Company
into its next chapter. Argo has a strong foundation, a talented team, and a
commitment to operational excellence. I look forward to working closely with
the Board and our stakeholders to drive innovation, enhance efficiency, and
create sustainable value for shareholders."

 

In connection with the appointment, the Company has awarded 22,250,000
performance share units relating to the Company's ordinary shares ("PSUs") to
Justin Nolan. In accordance with the Company's remuneration policy, which
applies to the Company's CEO, the PSUs contain performance conditions relevant
to Mr. Nolan's 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. Nolan 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.

 

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                                                         Justin Nolan
 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 Ordinary Shares
     Identification Code                                                            GB00BZ15CS02
 b)  Nature of the transaction                                    Grant of PSUs in respect of Ordinary Shares
 c)  Price(s) and volume(s)                                                         Price(s)            Volume(s)
     PSUs - N/A                                                                     22,250,000
 d)  Aggregated information:                                      N/A

     Aggregated volume Price
 e)  Date of the transaction                                      22  March 2025
 f)  Place of the Transaction                                     Not on a trading venue

For further information please contact:
 Argo Blockchain
 Investor Relations                  ir@argoblockchain.com (mailto: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 a mining
facility in Quebec 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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