Exercise of Options, Warrants and PDMR Dealings

RNS Number : 4027Q

Argo Blockchain PLC

25 February 2021

 

25 February 2021

Argo Blockchain PLC

('Argo' or 'The Company') 

Exercise of Options, Warrants and PDMR Dealings

Argo, the leading cryptocurrency miner based in the UK (LSE: ARB), announces that:

· on 23 of February, certain directors of the Company exercised options over Ordinary Shares ("Options") as more particularly set out below;

· between the 24 and 25 of February, certain directors of the Company sold ordinary shares of £0.001 each in the capital of the Company ("Ordinary Shares") as more particularly set out below; and

· on 23 of February, the Company received exercise notices from warrant holders exercising their warrants over Ordinary Shares ("Warrants") over in aggregate 1,350,000 Ordinary Shares.

Exercise of Options

On 23 February 2021, the following directors exercised Options:

PDMR / Person closely associated	Options exercised	Weighted average exercise price per Ordinary Share
Peter Wall	2,000,000	7p
Ian MacLeod	900,000	7p
Matthew Shaw	643,915	13p

As a result of the above Options being exercised, the Company has issued in aggregate 3,543,915 new Ordinary Shares. The aggregate gross proceeds to the Company from this option exercise is £289,741. Application will be made for the 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, and admission is expected to occur at 8:00 a.m. on 26 February 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Sale of Shares

Between 24 February and 25 February 2021, the following directors sold the following Ordinary Shares arising from the exercise of Options:

PDMR / Person closely associated	Ordinary Shares sold	Weighted average price per Ordinary Share
Peter Wall	1,525,000	£2.43
Ian MacLeod	900,000	£2.31
Matthew Shaw	506,626	£2.51

Following settlement of the above share sale, Peter Wall and Ian MacLeod will make a donation equal to 5 per cent of the profit from their sale of shares to an environmental charity.

Exercise of Warrants

The Company has received exercise notices in respect of Warrants over, in aggregate 1,350,000 Ordinary Shares at exercise prices between £0.001 and £0.08 per Ordinary Share. As a result of the exercise of these options, the Company has issued in aggregate 1,350,000 new Ordinary Shares. The aggregate gross proceeds to the Company from this option exercise is £29,000.

Application will be made for the 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, and admission is expected to occur at 8:00 a.m. on 26 February 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Enlarged Share Capital

Following admission of all of the above shares (which is expected to be on 26 February 2021), the total number of Ordinary Shares in issue will be 364,863,873 and the total number of voting rights will therefore be 364,863,873. This figure may be used by shareholders 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.

Exercise of Options

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter Wall Ian MacLeod Matthew Shaw
2.	Reason for the Notification
a)	Position/status	PDMR
b)	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Argo Blockchain PLC
b)	LEI	213800WPCCYSDYY26J54
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares
	Identification Code	GB00BZ15CS02
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volume(s)	Optionholder Price(s) Volume(s) Peter Wall 7 pence per Ordinary Share 2,000,000 Ordinary Shares Ian MacLeod 7 pence per Ordinary Share 900,000   Ordinary Shares Matthew Shaw Matthew Shaw 7 pence per Ordinary Share 16 pence per Ordinary Share 180,952  Ordinary Shares 462,963  Ordinary Shares
d)	Aggregated information:  Aggregated volume · Price	3,543,915 Ordinary Shares 8 pence per Ordinary Share
e)	Date of the transaction	23 February 2021
f)	Place of the Transaction	Not on a trading venue

Share Sales

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter Wall Ian MacLeod Matthew Shaw
2.	Reason for the Notification
a)	Position/status	PDMR
b)	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Argo Blockchain PLC
b)	LEI	213800WPCCYSDYY26J54
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares
	Identification Code	GB00BZ15CS02
b)	Nature of the transaction	Sale of Shares
c)	Price(s) and volume(s)	Seller Price(s) Volume(s) Peter Wall 24 February 240 pence per Ordinary Share 1,025,000 Ordinary Shares Peter Wall 25 February Ian MacLeod 24 February Ian MacLeod 25 February 248 pence per Ordinary Share 227 pence per Ordinary Share 248 pence per Ordinary Share 500,000 Ordinary Shares 750,000 Ordinary Shares 150,000 Ordinary Shares Matthew Shaw 25 February 251 pence per Ordinary Share 506,626 Ordinary Shares
d)	Aggregated information:  Aggregated volume · Price	2,931,626   Ordinary Shares 241 pence per Ordinary Share
e)	Date of the transaction	24 and 25 February 2021
f)	Place of the Transaction	London Stock Exchange

For further information please contact:

Argo Blockchain
Peter Wall Chief Executive Ian MacLeod Executive Chairman	via Tancredi [phone]
finnCap Ltd
Corporate Finance Jonny Franklin-Adams Tim Harper Corporate Broking Sunila de Silva	[phone]
OTC Markets
Jonathan Dickson [e-mail]	[phone] [phone]
Tancredi Intelligent Communication UK & Europe Media Relations
Salamander Davoudi [e-mail] Emma Valgimigli [e-mail]	[phone] [phone]

About Argo:

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered predominantly by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB.

argoblockchain.com

 

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