Argo Blockchain PLC Board Appointment and New Machine Installs (9334A)
27 Gennaio 2020 - 08:00AM
UK Regulatory
TIDMARB
RNS Number : 9334A
Argo Blockchain PLC
27 January 2020
27 January 2020
ARGO BLOCKCHAIN PLC
("Argo" or "the Company")
Ian MacLeod appointed Executive Chairman
New machine installation ahead of schedule
Argo, the leading cryptocurrency miner based in the UK
(LSE:ARB), announces that Ian MacLeod, a non-executive director of
the Company, has been appointed the executive chairman of its Board
with immediate effect.
Ian brings more than 20 years of international experience
providing strategic and legal advice at board level. Since 2007,
Ian has served as corporate secretary and general counsel to the
Teligence Group of Companies in Canada which operate a private
equity investment fund focused on telecoms, payments, ecommerce and
software development. He is responsible for acquisitions,
structuring and the strategic direction of the portfolio.
Mr MacLeod succeeds Mike Edwards, who is leaving to focus on his
global e-sports venture in South East Asia.
Mike Edwards, outgoing executive chairman, said: "It was a
pleasure to lead the Company through its admission to the main
market for its first full year of operations. I am proud of the
team we have built and the excellent set of results we have
delivered. I feel that it is the appropriate time for me to hand
over the reins so that the new leadership team can build on the
Company's strong foundations."
In a trading update issued last week, the Company announced that
it expects to report a 10-fold increase in annual revenues to
approximately GBP8.5m for the year ended 31 December 2019 compared
with the previous year. The Company's audited results will be
reported in April.
Peter Wall, chief executive of Argo, said: "On behalf of the
Company, I would like to thank Mike for his leadership and drive in
establishing Argo from start-up to a well-established, high growth
business in less than two years. He leaves the Company in good
shape and we wish him every success in his future career. I am
pleased to welcome Ian as chairman where his experience will play a
crucial role in the next stage of Argo's evolution."
Ian MacLeod commented, "I am delighted to accept the baton from
Mike as we continue to rapidly scale up our in-house mining
operations, which will further strengthen our position as a leading
publicly listed cryptocurrency miner based in one of the world's
top financial centres. I look forward to working closely with
Argo's leadership team to take the business to the next level and
deliver value to our shareholders."
Installed machine base
The Company is pleased to announce that it is ahead of schedule
to reach its Q1 goal of 17,000 machines. It now has 15,730
installed machines which currently produce 581 petahash.
For further information please contact:
Argo Blockchain
Ian MacLeod via Tancredi +44 203 434
Executive Chairman 2334
Neil Thapar
Financial Communications +44 7876 455323
Adviser
-------------------------
Mirabaud
-------------------------
Corporate Broker
Peter Krens +44 203 167 7221
-------------------------
Tancredi Communication
Media Relations
-------------------------
Salamander Davoudi
salamander@tancredigroup.com +44 7957 549 906
Emma Valgimigli
emma@tancredigroup.com +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.
www.argomining.co
See Argo's largest facility in Quebec:
https://youtu.be/LDWWaZ75Zbk
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END
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