Argo Blockchain PLC Allotment of New Shares (2338O)
09 June 2022 - 04:02PM
UK Regulatory
TIDMARB
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
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finnCap Ltd
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Corporate Finance
Jonny Franklin-Adams
Tim Harper
Joint Corporate Broker
Sunila de Silva +44 207 220 0500
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Tennyson Securities
--------------------------
Joint Corporate Broker
Peter Krens +44 207 186 9030
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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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