LONDON, UK / ACCESSWIRE / 9 June 2022 / Argo Blockchain plc, (“Argo” or “Company”), is a global leader in cryptocurrency mining (LSE: ARB) (NASDAQ: ARBK)announced an 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, a premier Bitcoin mining facility in Dickens County, Texas. The merger agreement with DPN LLC and DPN LLC members (“Agreement”) contains certain milestones that cause deferred consideration to be effected by allotment of ordinary shares of more than £ 0.001 each in the Company (“Ordinary Shares”) to DPN member LLC. Several milestones have now been determined and the Company is obliged to issue 8,147,831 new Ordinary Shares to members of DPN LLC, which is credited with payment at a price per share of £ 0.4950. No other Ordinary Shares are indebted to members of DPN LLC under the terms of the Agreement due to milestones that have yet to be met.
Applications will be made for 8,147,831 new Ordinary Shares to be accepted in the standard segment of the Official List and for trading on the Main Market of the London Stock Exchange. Admission will take place at 8:00 a.m. on Monday, June 13, 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.
Upon Admission, the number of Ordinary Shares issued will be 477,825,166 and the number of voting rights will be 477,825,166. This number may be used by the Company’s shareholders as a denominator for calculations that will determine whether to give notice of interest, or changes in interest in, the Company’s share capital under the FCA Disclosure and Transparency Rules.
Internal information
This announcement contains inside information.
For more information contact:
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Argo Blockchain |
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Peter Wall Chief Executive |
via Tancredi +44 203 434 2334 |
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finnCap Ltd |
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Company Finance Jonny Franklin-Adams Tim Harper Joint Company Broker Sunila de Silva |
+44 207 220 0500 |
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Tennyson Securities |
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Joint Company Broker Peter Kres |
+44 207 186 9030 |
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OTC market |
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Jonathan Dickson |
+44 204 526 4581 +44 7731 815 896 |
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Tancredi Intelligent Communication UK & European Media Relations |
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Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed |
+44 7727 180 873 +44 7888 672 701 +44 7915 033 739 |
About Argo
Argo Blockchain plc is a dual-listed blockchain technology company (LSE: ARB; NASDAQ: ARBK) focused on large-scale cryptocurrency mining. With state -of -the -art mining facilities in Texas, and offices in the U.S., Canada, and the United Kingdom, Argo’s global sustainable operations are generally supported by renewable energy. In 2021, Argo will be the first climate -positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. Argo is also involved in a number of Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to business operations, as well as the development of the cryptocurrency market. For more information, visit www.argoblockchain.com.
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SOURCE: Argo Blockchain PLC
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