Exercise of Options and Warrants

RNS Number : 4494L

Argo Blockchain PLC

12 January 2021

 

Press Release

12 January 2021

Argo Blockchain PLC

('Argo' or 'The Company') 

Exercise of Options and Warrants and Remaining Options and Warrants

Argo, the leading cryptocurrency miner based in the UK (LSE: ARB), announces that over the past several days it has received a notice of exercise of certain options ("Options") and notice of exercise of certain warrants ("Warrants") over ordinary shares of £0.001 each in the capital of the Company ("Ordinary Shares"). These exercise notices relate to Options and Warrants granted in connection with the Company's admission to the Official List and to trading on the Main Market, some of which were due to expire at the end of this month. 

As a result of the exercise of the Options, the Company has issued in aggregate 2,583,334 new Ordinary Shares to the holders of the Options. The new Ordinary Shares were issued at the exercise price of £0.16 per share. The aggregate gross proceeds to the Company from this option exercise is £413,333.

As a result of the exercise of the Warrants, the Company has issued in aggregate 1,579,709 new Ordinary Shares to the holders of the Warrants. 844,709 new Ordinary Shares were issued at the exercise price of £0.16 per share and 735,000 new Ordinary shares were issued at the exercise price of £0.08 per share. The aggregate gross proceeds to the Company from this warrant exercise is £241,553.

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. Admission is expected to occur at 8:00 a.m. on 15 January 2021. 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 327,278,456 and the total number of voting rights will therefore be 327,278,456. 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.

Following the above admission of the Ordinary Shares referred to above, the balance of outstanding warrants is 2,110,453 all of which expire by mid-June this year. In addition, the balance of outstanding Options is 20,709,694 of which the majority have yet to vest.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please contact:

Argo Blockchain
Peter Wall,  Chief Executive Ian MacLeod,  Executive Chairman	via Tancredi Tel: [phone]
Corporate Broker - finnCap Ltd
Jonny Franklin-Adams / Kate Washington  (Corporate Finance) Sunila de Silva   (Corporate Broking)	Tel: [phone]
OTC Markets
Jonathan Dickson [e-mail]	Tel: [phone] Tel: [phone]
Media Relations - Tancredi Intelligent Communications
Salamander Davoudi [e-mail] Emma Valgimigli [e-mail]	Tel: [phone] Tel: [phone]

About Argo:

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered 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

See Argo's largest facility in Quebec:

https://youtu.be/LDWWaZ75Zbk

 

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