Sign in Subscribe
Argo Blockchain PLC

Argo Blockchain Announces Block Listing of 31.4 Million Ordinary Shares

Strategic Insights

— 1 min read

Argo Blockchain plc, a global leader in cryptocurrency mining, has announced the block listing of 31,406,429 ordinary shares of £0.001 each in connection with the warrant granted to an investor. The block listing is part of the company's fundraising announced on July 30, 2024. The block listing shares will be admitted to the Official List and to trading on the London Stock Exchange's Main Market, with admission expected to become effective on August 16, 2024. This move aims to provide the company with additional funding and flexibility to expand its operations.

Key Takeaways:

  • Argo Blockchain plc has announced the block listing of 31,406,429 ordinary shares of £0.001 each in connection with the warrant granted to an investor.
  • The block listing is part of the company's fundraising announced on July 30, 2024.
  • The block listing shares will be admitted to the Official List and to trading on the London Stock Exchange's Main Market, with admission expected to become effective on August 16, 2024.
  • The block listing represents the remaining balance of the company's exemption from the issuance of a prospectus under the Prospectus Regulation Rules.
  • The company intends to make an application for an additional block listing in January 2025, when further headroom becomes available.
  • When issued, the block listing shares will rank pari passu with the existing issued ordinary shares of the company.
  • Argo Blockchain plc is a dual-listed blockchain technology company focused on large-scale cryptocurrency mining, with operations in Quebec and Texas, and offices in the US, Canada, and the UK.
  • The company became the first climate-positive cryptocurrency mining company in 2021 and a signatory to the Crypto Climate Accord.

Statistics:

  • 31,406,429 ordinary shares of £0.001 each will be block listed.
  • £0.001 face value per share.
  • Block listing shares will be admitted to the Official List and to trading on the London Stock Exchange's Main Market on August 16, 2024.
  • Company intends to make an application for an additional block listing in January 2025.
  • 26,393,571 ordinary shares under the warrant will be included in the additional block listing.
  • Company became climate positive in 2021.

Sources:

  • Accesswire, "Argo Blockchain Announces Block Listing of 31.4 Million Ordinary Shares" (August 15, 2024)
  • Argo Blockchain plc, "About Us" (www.argoblockchain.com)
  • London Stock Exchange, "Argo Blockchain" (RNS announcement)
  • Financial Conduct Authority, "Prospectus Regulation Rules" (www.fca.org.uk)

Read more