RNS Number : 2338O

Argo Blockchain PLC

09 June 2022

9 June 2022

Argo Blockchain PLC

("Argo" or "the Company")

Allotment of New Shares

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), announces the allotment of 8,147,831 new Ordinary Shares in connection with the Company's acquisition of DPN LLC .

In March 2021, the Company acquired DPN LLC along with the land held by DPN LLC for Helios, its flagship Bitcoin mining facility in Dickens County, Texas. The merger agreement with DPN LLC and the DPN LLC members (the "Agreement") contains certain milestones which trigger deferred consideration to be satisfied by the allotment of further ordinary shares of GBP0.001 each in the Company ("Ordinary Shares") to the DPN LLC members. Certain of the milestones have now been met and the Company is obliged to issue 8,147,831 new Ordinary Shares to the members of DPN LLC, credited as fully paid at a price per share of GBP0.4950. No further Ordinary Shares are owed to the DPN LLC members under the terms of the Agreement as the remaining milestones have not been met.

Application will be made for the 8,147,831 new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Admission is expected to occur at 8:00 a.m. on Monday, 13 June 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the total number of Ordinary Shares in issue will be 477,825,166 and the total number of voting rights will therefore be 477,825,166 . This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Inside Information

This announcement contains inside information.

For further information please contact:

  Argo Blockchain 
  Peter Wall                             via Tancredi +44 203 434 
   Chief Executive                        2334 
  finnCap Ltd 
  Corporate Finance 
   Jonny Franklin-Adams 
   Tim Harper 
   Joint Corporate Broker 
   Sunila de Silva                       +44 207 220 0500 
  Tennyson Securities 
  Joint Corporate Broker 
   Peter Krens                           +44 207 186 9030 
  OTC Markets 
  Jonathan Dickson                       +44 204 526 4581 
   jonathan@otcmarkets.com                +44 7731 815 896 
  Tancredi Intelligent Communication 
   UK & Europe Media Relations 
  Emma Valgimigli 
   Fabio Galloni-Roversi Monaco          +44 7727 180 873 
   Nasser Al-Sayed                        +44 7888 672 701 
   argoblock@tancredigroup.com            +44 7915 033 739 

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With its flagship mining facility 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 www.argoblockchain.com.

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(END) Dow Jones Newswires

June 09, 2022 02:02 ET (06:02 GMT)

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