Argo Blockchain PLC Board Changes and Adjournment of General Meeting (0390Z)
15 May 2019 - 4:01PM
UK Regulatory
TIDMARB
RNS Number : 0390Z
Argo Blockchain PLC
15 May 2019
PRESS RELEASE
15 May 2019
Argo Blockchain PLC
('Argo' or 'the Company')
Board changes and proposed indefinite adjournment of general
meeting
Argo, a leading UK-based cryptomining company (LSE:ARB),
announces that following discussions with its major shareholder it
has been agreed that:
-- Mr Jonathan Bixby will step down from the Board of Directors
from the adjournment of the general meeting to be held on 16 May
2019;
-- Mike Edwards, co-founder and director of the Company, will
assume the chairmanship of the board;
-- At the forthcoming Annual General Meeting of the Company,
scheduled for 25 June 2019, a resolution will be proposed for the
appointment of a new independent non-executive director, such
person to be nominated by the Board after consultation with First
Investments Holding Limited, the Company's major shareholder;
and
-- Accordingly, at the general meeting convened for 16 May 2019
a resolution will be proposed to adjourn that meeting indefinitely
without considering or voting upon the other business of the
meeting. First Investments Holding Limited has agreed to support
that indefinite adjournment.
Separately, First Investments Holding Limited has signed a
commercial letter of intent to become Argo's first and potentially
largest enterprise-level mining-as-a-service customer for up to
US$1m per month, further validating the strategy outlined in the
previous Argo/Hive partnership announcement.
Mike Edwards, director of Argo, said: "We have listened to
shareholders and look forward to enhanced engagement with them
going forward. We are fully focused on delivering long-term value
for all investors. This announcement is further validation that
both the crypto market and our enterprise level Mining-as-a-Service
strategy has been well received by our shareholders. I would like
to thank Jonathan for his dedicated service to the Company and for
helping to establish a strong foundation for the business."
For further information please contact:
Argo Blockchain
Mike Edwards via Tancredi +44 207 887 7633
Neil Thapar
Financial Communications
Advisor +44 (0) 7876 455323
------------------------------
Mirabaud
Corporate Broker
------------------------------
Peter Krens +44 203 167 7221
------------------------------
Tancredi Intelligent
Communication
Media Relations
------------------------------
Salamander Davoudi
salamander@tancredigroup.com +44 7957 549 906
Georgia Hanias
Georgia@tancredigroup.com +44 7812 211 403
------------------------------
About Argo:
Argo Blockchain plc is a global data centre management business
that provides a low-cost, flexible and user-friendly platform for
the mining of leading cryptocurrencies. Our cloud-based Mining as a
Service (MaaS) platform is available at scale on a subscription fee
of US$50 per month. Our platform provides consumers without
significant computing expertise or complex and expensive hardware
with the opportunity to mine Bitcoin, Bitcoin Gold, Ethereum,
Ethereum Classic, Zcash, Horizen and Komodo. Argo is headquartered
in London, UK and operates state-of-the art data centres in Quebec,
Canada. The Company's shares are listed on the main market of
London Stock Exchange under the ticker: ARB.
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END
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