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 +44 203 434 2334

 

 

 

 

 

finnCap Ltd


Corporate Finance

Jonny Franklin-Adams

Tim Harper

 

Corporate Broking

 

Sunila de Silva  

+44 207 220 0500

 

 

 

 

 

 

 

OTC Markets


Jonathan Dickson

jonathan@otcmarkets.com

 

+44 204 526 4581

 

+44 7731 815 896

Tancredi Intelligent Communication

UK & Europe Media Relations


Salamander Davoudi

salamander@tancredigroup.com

Emma Valgimigli

emma@tancredigroup.com

 

+44 7957 549 906

 

+44 7727 180 873

 

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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