Exercise of Warrants and PDMR Dealing

RNS Number : 3074K

Argo Blockchain PLC

31 December 2020

 

31 December 2020

Argo Blockchain PLC

('Argo' or 'The Company') 

Exercise of Warrants and PDMR Dealing

Argo, the leading cryptocurrency miner based in the UK LSE: ARB), announces that it has received notices of exercise of certain warrants ("Warrants") over ordinary shares of £0.001 each in the capital of the Company ("Ordinary Shares"). The exercise notices relate to 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 in February 2021.

As a result of the exercise of the Warrants, the Company has issued in aggregate 14,155,000 new Ordinary Shares to the holders of the Warrants. The new Ordinary Shares were issued at the exercise price of the relevant Warrant, resulting in 5,600,000 new Ordinary Shares being issued at a price per new Ordinary Share of £0.08, and 8,555,000 at a price per new Ordinary Share of £0.16. The aggregate gross proceeds of the warrant exercise are £1,816,800.

Certain of the Warrants were held by Peter Wall, a director of the Company. Further details are set out below:

PDMR / Person closely associated	Ordinary Shares purchased	Weighted average price per Ordinary Share	Resultant Shareholding	Percentage of the total voting rights of the Company
Peter Wall	1,400,000	£0.08	1,970,000	0.64%

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 7 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 307,905,000 and the total number of voting rights will therefore be 307,905,000. 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 information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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
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	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 8 pence per Ordinary Share 1,400,000 Ordinary Shares
d)	Aggregated information:  Aggregated volume · Price	1,400,000 Ordinary Shares 8 pence per Ordinary Share
e)	Date of the transaction	30 December 2020
f)	Place of the Transaction	Off Market

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) Richard Chambers (Corporate Broking)	Tel: [phone]
Media Relations - Tancredi Intelligent Communications
Salamander Davoudi Emma Valgimigli	[e-mail] Tel: [phone] [e-mail] 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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