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Argo Blockchain PLC (ARB)

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Wednesday 15 May, 2019

Argo Blockchain PLC

Board Changes and Adjournment of General Meeting

RNS Number : 0390Z
Argo Blockchain PLC
15 May 2019
 

PRESS RELEASE

 

15 May 2019

 

Argo Blockchain PLC

('Argo' or 'the Company')

 

Board changes and proposed indefinite adjournment of general meeting

 

Argo, a leading UK-based cryptomining company (LSE:ARB), announces that following discussions with its major shareholder it has been agreed that:

 

·     Mr Jonathan Bixby will step down from the Board of Directors from the adjournment of the general meeting to be held on 16 May 2019;

·     Mike Edwards, co-founder and director of the Company, will assume the chairmanship of the board;

·     At the forthcoming Annual General Meeting of the Company, scheduled for 25 June 2019, a resolution will be proposed for the appointment of a new independent non-executive director, such person to be nominated by the Board after consultation with First Investments Holding Limited, the Company's major shareholder; and

·     Accordingly, at the general meeting convened for 16 May 2019 a resolution will be proposed to adjourn that meeting indefinitely without considering or voting upon the other business of the meeting.  First Investments Holding Limited has agreed to support that indefinite adjournment.

 

Separately, First Investments Holding Limited has signed a commercial letter of intent to become Argo's first and potentially largest enterprise-level mining-as-a-service customer for up to US$1m per month, further validating the strategy outlined in the previous Argo/Hive partnership announcement.

 

Mike Edwards, director of Argo, said: "We have listened to shareholders and look forward to enhanced engagement with them going forward. We are fully focused on delivering long-term value for all investors.  This announcement is further validation that both the crypto market and our enterprise level Mining-as-a-Service strategy has been well received by our shareholders. I would like to thank Jonathan for his dedicated service to the Company and for helping to establish a strong foundation for the business."

 

 

For further information please contact:

 

Argo Blockchain

 

Mike Edwards

 

Neil Thapar

Financial Communications Advisor

via Tancredi +44 207 887 7633

 

 

+44 (0) 7876 455323

Mirabaud

Corporate Broker

 

 

Peter Krens

 

 

+44 203 167 7221

Tancredi Intelligent Communication

Media Relations

 

 

Salamander Davoudi

[email protected]

 

Georgia Hanias

[email protected]

 

+44 7957 549 906

 

 

+44 7812 211 403

 

 

 

 

About Argo:

Argo Blockchain plc is a global data centre management business that provides a low-cost, flexible and user-friendly platform for the mining of leading cryptocurrencies. Our cloud-based Mining as a Service (MaaS) platform is available at scale on a subscription fee of US$50 per month. Our platform provides consumers without significant computing expertise or complex and expensive hardware with the opportunity to mine Bitcoin, Bitcoin Gold, Ethereum, Ethereum Classic, Zcash, Horizen and Komodo. Argo is headquartered in London, UK and operates state-of-the art data centres in Quebec, Canada. The Company's shares are listed on the main market of London Stock Exchange under the ticker: ARB.


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