REG - Argo Blockchain PLC - Grant of Equity Awards and PDMR Notifications

Argo BlockchainAnnouncement

24/03/2023 07:00

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RNS Number : 0793U  Argo Blockchain PLC  24 March 2023

Press Release

24 March 2023

Argo Blockchain plc

("Argo" or "the Company")

 

Grant of Equity Awards and PDMR Notifications

 

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB;
NASDAQ: ARBK), announces that is has granted Restricted Share Units ("RSUs"),
Performance Share Units ("PSUs"), and share options ("Share Options") under
the 2022 Equity Incentive Plan (the "Plan") approved by shareholders at the
Company's 2022 Annual General Meeting.

 

Grant of Equity Awards

 

On 22 March 2023, the Company granted 1,973,892 PSUs and 658,623 Share Options
to Seif El-Bakly, the Company's interim Chief Executive Officer. In accordance
with the Company's remuneration policy, which applies to the Company's CEO,
the PSUs and Share Options both contain performance conditions relevant to Mr.
El-Bakly's role. The PSUs and Share Options vest over a three-year period,
with first vesting occurring twelve months from the date of grant (at which
point 12/36(th)s vest) and, thereafter the PSUs and Share Options vest at a
rate of 3/36(th) per quarter for the remainder of the vesting period subject
to the continued employment of Mr. El-Bakly and satisfaction of the
performance conditions by Mr. El-Bakly.

On 9 March 2023, the Company granted 6,839,980 RSUs in aggregate to the rest
of the 38 employees in order to align incentives across the full team. The
RSUs vest over a three-year period, with first vesting occurring six months
from the date of grant (at which point 6/36(th)s vest) and, thereafter, the
RSUs vest at a rate of 3/36(th) per quarter for the remainder of the vesting
period subject to the continued employment of the grantee.

The information communicated in this announcement is inside information for
the purposes of Article 7 of Regulation 596/2014.

 

PDMR Notifications

 

Grant of PSUs and Options

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                                                         Seif El-Bakly
 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

                                                                  Options over ordinary shares
     Identification Code                                          GB00BZ15CS02
 b)  Nature of the transaction                                    Grant of PSUs in respect of ordinary shares

                                                                  Grant of options over ordinary shares
 c)  Price(s) and volume(s)                                       Price(s)                                  Volume(s)
                                                                  PSUs - N/A                                1,973,892 ordinary shares
                                                                  Options - 12.88 pence per ordinary share  658,623 ordinary shares
 d)  Aggregated information:

      Aggregated volume                                          N/A

     · Price
 e)  Date of the transaction                                      22 March 2023
 f)  Place of the Transaction                                     Not on a trading venue

d)

Aggregated information:

 Aggregated volume

· Price

 

N/A

e)

Date of the transaction

22 March 2023

f)

Place of the Transaction

Not on a trading venue

 

For further information please contact:

 Argo Blockchain
 Investor Relations                  ir@argoblockchain.com
 finnCap Ltd
 Corporate Finance                   +44 207 220 0500

 Jonny Franklin-Adams

 Seamus Fricker

 Joint Corporate Broker

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

 Peter Krens
 Tancredi Intelligent Communication

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

 Emma Valgimigli

 Fabio Galloni-Roversi Monaco

 Nasser Al-Sayed

 

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.
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 (http://www.argoblockchain.com/) www.argoblockchain.com
(http://www.argoblockchain.com/) .

 

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