New Hires, Warrants & Enlarged Share Capital

RNS Number : 8340E

Argo Blockchain PLC

12 July 2021

 

12 July 2021

Argo Blockchain PLC

('Argo' or 'The Company')

Appointment of VP of Technology and Development & Head of Data Centre Operations

Exercise of warrants, grant of share options and warrants and enlarged share capital

Appointment of VP of Technology and Development & Head of Data Centre Operations

Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce that it has appointed Jean Esquier as Vice President of Technology & Development and Theodore Papadakis as Head of Data Centre Operations.

Jean will be responsible for overseeing international partnerships, logistics and supply chain management, alternate site identification and development, and immersion cooling operations. With a background in mechanical and petroleum engineering, Jean has worked in the cryptocurrency mining industry since the beginning of 2016 and was most recently the Director of Engineering and Research for one of North America's largest mining co-location companies. He also co-founded the manufacturing consulting firm, Synos, which is partnered with one of the largest cryptocurrency ASIC manufacturers in the world.

Theodore Papadakis has over 7 years' experience as a Data Centre Manager of large-scale data centres, building internal processes for a distributed team, and managing and leading all aspects of provincial operations, including people, equipment, and facilities. Theodore will oversee the end-to-end operations in the Company's newly acquired Quebec facilities.

Peter Wall, Chief Executive of Argo, said: "We are delighted to welcome Jean and Theodore to the Argo team. Their experience and expertise within the cryptocurrency mining and operations sectors are crucial as we continue to upscale our mining infrastructure and as the build out of our Texas facility continues."

Share options and warrants outstanding as at 30 June 2021 and exercise of share warrants

Argo announces that it has received notice in June 2021 of the exercise of warrants ("Warrants") of 71,046 ordinary shares of £0.001 each in the share capital of the Company at an exercise price of £0.16 each. The aggregate gross proceeds of this exercise are £11,367.

During the six-month period to 30 June 2021, certain employees, both new in that period and those employed as at 31 December 2020, received share option plan awards. In total, the share options granted comprise 2,231,991 ordinary shares of £0.001 each. The vesting period for these options is between 2 and 3 years.

During the six-month period to 30 June 2021, certain suppliers were granted share warrants in lieu of services performed. One supplier continues to receive 10,000 share warrants for each month of service completed. The total number of warrants granted under these arrangements for the period to 30 June 2021 was 535,821 ordinary shares of £0.001 each.

As at 30 June 2021, there were total share options and warrants granted (but not all vested) of 11,258,897 ordinary shares of £0.001 each.

Enlarged Share Capital

Following admission of all of the above shares (which is expected to be on 15 July 2021), the total number of ordinary shares in issue will be 381,832,335 and the total number of voting rights will therefore be 381,832,335. 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. The new ordinary shares will rank pari passu with the existing ordinary shares of the Company.

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  Joint Corporate Broker Sunila de Silva	[phone]
Tennyson Securities
Joint Corporate Broker Peter Krens	[phone]
OTC Markets
Jonathan Dickson [e-mail]	[phone] [phone]
Tancredi Intelligent Communication UK & Europe Media Relations
Emma Valgimigli Emma Hodges Salamander Davoudi [e-mail]	[phone] [phone] [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 and on the OTCQX Best Market in the United States under the ticker: ARBKF.

argoblockchain.com

 

END

 

 

MSCSFAEFSEFSEDW