REG - Argo Blockchain PLC - Company Update Notification Re Minimum Bid Price

Argo BlockchainAnnouncement

17/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250117:nRSQ6717Ta&default-theme=true

RNS Number : 6717T  Argo Blockchain PLC  17 January 2025

Press Release

17 January 2025

Argo Blockchain plc

("Argo" or "the Company")

Argo Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

Argo Blockchain plc (LSE: ARB; NASDAQ: ARBK), announces today that it has
received written notification (the "Notification Letter") from the Nasdaq
Stock Market LLC Listing Qualifications Department ("Nasdaq") that it is not
in compliance with the minimum bid price requirement set forth in Nasdaq Rule
5450(a)(1) since the closing bid price for the Company's American Depositary
Shares ("ADS") listed on the Nasdaq Global Select Market was below $1.00 for
30 consecutive business days.

In accordance with Listing Rule 5810(c)(3)(A), the Company has until 15 July
2025, to regain compliance with the minimum bid price requirement, during
which time the ADSs are expected to continue to trade on the Nasdaq Global
Select Market. If at any time before 15 July 2025, the bid price of the ADSs
closes at or above $1.00 per share for a minimum of 10 consecutive business
days, Nasdaq will provide written notification that the Company has achieved
compliance with the minimum bid price requirement and will consider such
deficiency matters closed.

The Notification Letter does not affect the Company's business operations, and
it does not affect the Company's listing on the London Stock Exchange.

The Company intends to monitor the bid price of its ADSs between now and 15
July 2025, and to evaluate all available options to resolve the deficiency and
regain compliance with Nasdaq Rule 5450(a)(1).

This announcement contains inside information.

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
                                     (mailto:guy.wheatley@fortifiedsecurities.com)
 Tancredi Intelligent Communication   argoblock@tancredigroup.com (mailto: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 www.argoblockchain.com (http://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  UPDMZGMMNVRGKZM