Argo Blockchain PLC GBP7.8 million ($9.9 million) Placing (8691Y)
08 Gennaio 2024 - 8:30AM
UK Regulatory
TIDMARB
RNS Number : 8691Y
Argo Blockchain PLC
08 January 2024
Press Release
8 January 2024
Argo Blockchain plc
("Argo" or "the Company")
GBP7.8 million ($9.9 million) Placing
Argo Blockchain plc, a global leader in cryptocurrency mining
(LSE: ARB; NASDAQ: ARBK), is pleased to announce it has raised,
subject to Admission, gross proceeds of GBP7.8 million ($9.9
million) by the issue of 38,064,000 new ordinary shares of GBP0.001
each in the Company ("Ordinary Shares") at a price per share of
GBP0.205 to certain institutional investors (the "Placing"). The
Placing price represents a discount of approximately 1 per cent to
the 30 trading day VWAP of the Company's existing ordinary shares
for the period ended on 5 January 2024, and a discount of
approximately 24 per cent to the closing mid-price of the Company's
ordinary shares on 5 January 2024. The new Ordinary Shares being
issued represent approximately 7.06 per cent of the existing issued
ordinary share capital of the Company prior to the Placing.
The net proceeds of the Placing are expected to be used by the
Company for working capital, the repayment of indebtedness, and for
general corporate purposes. The Placing is limited to those certain
institutional investors that have already subscribed and this
announcement should not be considered an offer or solicitation to
purchase or subscribe for securities in the United States.
The new Ordinary Shares will rank pari passu with the existing
Ordinary Shares in issue and application will be made for the new
Ordinary Shares to be admitted to the Official List and to trading
on the Main Market of the London Stock Exchange PLC. Admission is
expected to occur, and dealings in the new Ordinary Shares
commence, on 11 January 2024.
Tennyson Securities (a trading name of Shard Capital Partners
LLP) acted as the Company's agent for the Placing.
Total Voting Rights
Following both the Private Placement Admission and the
previously announced PSU Admission, the Company will have a total
of 577,001,363 Ordinary Shares in issue. No Ordinary Shares are
held in treasury. The above figure may be used by the Company's
shareholders as the denominator for the calculations by which they
can determine whether they are required to notify their interest
in, or a change of their interest in, the Company under the FCA
Disclosure Guidance and Transparency Rules.
This announcement contains inside information.
For further information please contact:
Argo Blockchain
Investor Relations ir@argoblockchain.com
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Tennyson Securities
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Corporate Broker
Peter Krens +44 207 186 9030
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Fortified Securities
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Joint Broker +44 7493 989014
Guy Wheatley, CFA guy.wheatley@fortifiedsecurities.com
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Tancredi Intelligent Communication argoblock@tancredigroup.com
UK & Europe Media Relations
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About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK)
blockchain technology company focused on large-scale cryptocurrency
mining. With mining facilities in Quebec, mining operations in
Texas, and offices in the US, Canada, and the UK, Argo's global,
sustainable operations are predominantly powered by renewable
energy. In 2021, Argo became the first climate positive
cryptocurrency mining company, and a signatory to the Crypto
Climate Accord. For more information, visit www.argoblockchain.com
.
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