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Argo Blockchain PLC (ARB)

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Wednesday 05 February, 2020

Argo Blockchain PLC

Grant of Share Options

RNS Number : 9745B
Argo Blockchain PLC
05 February 2020
 

 Press Release

5 February 2020

Argo Blockchain PLC

('Argo' or 'The Company')

 

Grant of Share Options

 

Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), announces that the Board has granted an award of 11,400,000 options over ordinary shares of £0.001 each in the Company (Ordinary Shares).

These options have been granted to the Company's management, executive and Board members as a long term incentive. These options have been granted from the pool of available options established under the Company's 2018 option plan, including lapsed options that were returned to the Company's option pool.

The options are priced at £0.07 per Ordinary Share, and will begin to vest three months after the date of the grant in equal monthly tranches over the next 21 months and are exercisable on or before February 4, 2030. The options were granted as follows:

 

Director/Senior Manager

Options

Peter Wall

5,700,000

Ian MacLeod

1,900,000

Inderpreet Hothi

1,662,500

Sebastien Chalus

1,187,500

Matthew Shaw

475,000

Timothy Le Druillenec

475,000

Total

11,400,000 

 

Mike Edwards, the Company's former Executive Chairman, retains the 7,047,525 options over Ordinary Shares granted to Mr Edwards in July 2018, and which have already vested, for a period of three years from January 27, 2020. The remaining 3,281,500 unvested options lapsed on his departure, and were returned to the option pool under the Company's 2018 option plan. Details of the Company's option plan are set out in the Company's prospectus dated 30 July 2018. The options granted to Mr Edwards remain exercisable at a price of 16 pence per Ordinary Share.

Ian MacLeod, Argo's executive chairman, stated that: "The grant of these options aligns the interests of the Board and senior management with those of the Company's shareholders and incentivises increased profitability and the generation of long term shareholder value." 

PDMR Notification

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

Inderpreet Hothi

Sebastien Chalus

Matthew Shaw

Timothy Le Druillenec

2.

Reason for the Notification

a)

Position/status

Directors and PDMRs of the Company

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

Options over Ordinary shares

 

Identification Code

GB00BZ15CS02

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

Optionholder

Price

No. of options over ordinary shares

Peter Wall

£0.07

5,700,000

Ian MacLeod

£0.07

1,900,000

Inderpreet Hothi

£0.07

1,662,500

Sebastien Chalus

£0.07

1,187,500

Matthew Shaw

£0.07

475,000

Timothy Le Druillenec

£0.07

475,000

 

d)

Aggregated information:

·     Aggregated volume

·     Price

 

11,400,000 Options over Ordinary Shares

£0.07 per Ordinary Share

e)

Date of the transaction

February 5, 2020

f)

Place of the Transaction

Not on a trading venue

 

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

Matthew Shaw

2.

Reason for the Notification

a)

Position/status

Director

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

Options over Ordinary shares

 

Identification Code

GB00BZ15CS02

b)

Nature of the transaction

Grant of Options over Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

16 pence per Ordinary Share

1,000,000 Options over Ordinary Shares

 

d)

Aggregated information:

·     Aggregated volume

·     Price

 

 1m   Options over  Ordinary Shares

£0.16    per Ordinary Share

e)

Date of the transaction

28 August 2019

f)

Place of the Transaction

Not on a trading venue

 

This announcement contains inside information.

 

For further information please contact:

Argo Blockchain

 

Peter Wall

Chief Executive

 

Neil Thapar

Financial Communications Adviser

via Tancredi +44 203 434 2334

 

 

+44 7876 455323

Mirabaud

 

Corporate Broker

Peter Krens

+44 203 167 7221

Tancredi Communication

Media Relations

 

Salamander Davoudi

[email protected]

    

 Emma Valgimigli

[email protected]

+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 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.

https://argoblockchain.com/

See Argo's largest facility in Quebec:

https://youtu.be/LDWWaZ75Zbk

 


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