Argo Blockchain PLC Announces Appointment of Chief Executive Officer
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has appointed Justin Nolan as Chief Executive Officer and Director, effective March 22, 2025. Nolan, who previously served as CEO at Arkon Energy and Chief Growth Officer at Argo, brings significant industry experience to the role.
During his earlier tenure at Argo, Nolan was instrumental in expanding operations, particularly in developing the Helios project. He co-founded DPN , which initially developed Helios before Argo's acquisition in March 2021.
As part of his compensation package, Nolan has been awarded 22,250,000 performance share units (PSUs) that vest over three years, subject to performance conditions and continued employment. The PSUs vest in three equal tranches at 12, 24, and 36 months from the grant date.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha nominato Justin Nolan come Amministratore Delegato e Direttore, con effetto dal 22 marzo 2025. Nolan, che in precedenza ha ricoperto il ruolo di CEO presso Arkon Energy e Chief Growth Officer in Argo, porta con sé un'esperienza significativa nel settore.
Durante il suo precedente incarico in Argo, Nolan è stato fondamentale nell'espansione delle operazioni, in particolare nello sviluppo del progetto Helios. È co-fondatore di DPN, che inizialmente ha sviluppato Helios prima dell'acquisizione da parte di Argo nel marzo 2021.
Come parte del suo pacchetto di compenso, a Nolan sono stati assegnati 22.250.000 unità di azioni legate alla performance (PSU) che maturano nell'arco di tre anni, soggette a condizioni di performance e alla continuazione dell'impiego. Le PSU maturano in tre tranche uguali a 12, 24 e 36 mesi dalla data di assegnazione.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha nombrado a Justin Nolan como Director Ejecutivo y Director, con efecto a partir del 22 de marzo de 2025. Nolan, que anteriormente fue CEO de Arkon Energy y Director de Crecimiento en Argo, aporta una experiencia significativa en la industria al cargo.
Durante su anterior mandato en Argo, Nolan fue fundamental en la expansión de operaciones, especialmente en el desarrollo del proyecto Helios. Co-fundó DPN, que inicialmente desarrolló Helios antes de la adquisición por parte de Argo en marzo de 2021.
Como parte de su paquete de compensación, a Nolan se le han otorgado 22,250,000 unidades de acciones de rendimiento (PSUs) que se consolidan durante tres años, sujetas a condiciones de rendimiento y empleo continuado. Las PSU se consolidan en tres tramos iguales a los 12, 24 y 36 meses desde la fecha de concesión.
아르고 블록체인 (LSE:ARB)(NASDAQ:ARBK)는 저스틴 놀란을 CEO 겸 이사로 임명했다고 발표했습니다. 이는 2025년 3월 22일부터 효력이 발생합니다. 놀란은 이전에 아르콘 에너지의 CEO와 아르고의 성장 책임자를 맡았으며, 이 역할에 상당한 산업 경험을 제공합니다.
아르고에서의 이전 재직 기간 동안 놀란은 특히 헬리오스 프로젝트 개발에 있어 운영 확장에 중요한 역할을 했습니다. 그는 DPN을 공동 설립했으며, 이 회사는 아르고가 2021년 3월에 인수하기 전까지 헬리오스를 개발했습니다.
보상 패키지의 일환으로 놀란은 3년 동안 성과 조건과 고용 지속 조건에 따라 22,250,000 성과 주식 단위(PSU)를 부여받았습니다. PSU는 부여일로부터 12개월, 24개월 및 36개월에 걸쳐 세 개의 동일한 분할로 부여됩니다.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) a nommé Justin Nolan au poste de Directeur Général et Administrateur, à compter du 22 mars 2025. Nolan, qui a précédemment été CEO d'Arkon Energy et Directeur de la Croissance chez Argo, apporte une expérience significative dans le secteur à ce poste.
Au cours de son mandat précédent chez Argo, Nolan a joué un rôle clé dans l'expansion des opérations, notamment dans le développement du projet Helios. Il est co-fondateur de DPN, qui a initialement développé Helios avant l'acquisition par Argo en mars 2021.
Dans le cadre de son package de rémunération, Nolan a reçu 22 250 000 unités d'actions de performance (PSU) qui se libèrent sur trois ans, sous réserve de conditions de performance et de maintien de l'emploi. Les PSU se libèrent en trois tranches égales à 12, 24 et 36 mois à compter de la date d'attribution.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) hat Justin Nolan zum Chief Executive Officer und Direktor ernannt, wirksam ab dem 22. März 2025. Nolan, der zuvor als CEO bei Arkon Energy und Chief Growth Officer bei Argo tätig war, bringt bedeutende Branchenerfahrung in diese Rolle ein.
Während seiner früheren Amtszeit bei Argo war Nolan maßgeblich an der Expansion der Operationen beteiligt, insbesondere an der Entwicklung des Helios-Projekts. Er ist Mitbegründer von DPN, das Helios zunächst entwickelte, bevor Argo im März 2021 das Unternehmen übernahm.
Im Rahmen seines Vergütungspakets wurden Nolan 22.250.000 Performance-Aktieneinheiten (PSUs) zugeteilt, die über einen Zeitraum von drei Jahren unter Leistungsbedingungen und fortlaufender Beschäftigung fällig werden. Die PSUs werden in drei gleichen Tranchen nach 12, 24 und 36 Monaten ab dem Zuteilungsdatum fällig.
- New CEO brings direct experience with company's operations and Helios project
- CEO appointment includes performance-based compensation structure aligned with shareholder interests
- CEO has proven track record in scaling mining operations
- Significant potential shareholder dilution from 22,250,000 PSUs granted to new CEO
Appointment of Chief Executive Officer and PDMR Notification
LONDON, UNITED KINGDOM / ACCESS Newswire / March 24, 2025 / Argo Blockchain plc, (LSE:ARB)(NASDAQ:ARBK), is pleased to announce that it has appointed Justin Nolan as Chief Executive Officer and Director with effect as of 22 March 2025.
Justin Nolan most recently was Chief Executive Officer at Arkon Energy, a digital infrastructure company. Prior to his role at Arkon Energy, Mr. Nolan served as Chief Growth Officer at Argo. In this capacity, he played a pivotal role in expanding the Company's operations, including the development of the Helios project. Earlier in his career, Nolan co-founded and led DPN LLC, which was instrumental in the initial development of the Helios project before its acquisition by Argo Blockchain in March 2021.
Argo's chairman, Matthew Shaw said, "We are delighted to welcome Justin back to Argo at this pivotal time for the Company. His deep industry expertise, strategic vision, and leadership in scaling mining operations, including his previous contributions to the Helios project, make him the ideal leader for our next phase of growth. Under his guidance, we look forward to further strengthening Argo's market position and operational efficiency."
Justin Nolan said, "I am honored to rejoin Argo as CEO and lead the Company into its next chapter. Argo has a strong foundation, a talented team, and a commitment to operational excellence. I look forward to working closely with the Board and our stakeholders to drive innovation, enhance efficiency, and create sustainable value for shareholders."
In connection with the appointment, the Company has awarded 22,250,000 performance share units relating to the Company's ordinary shares ("PSUs") to Justin Nolan. In accordance with the Company's remuneration policy, which applies to the Company's CEO, the PSUs contain performance conditions relevant to Mr. Nolan's role. The PSUs vest over a three-year period, with first vesting occurring twelve months from the date of grant (at which point up to one-third vest), the second vesting occurring 24 months from the date of grant (at which point up to a further third vest) and the third vesting occurring 36 months from date of grant (at which point up to the final third vest), subject to the continued employment of Mr. Nolan and satisfaction of the performance conditions. If the performance conditions are not satisfied at particular vesting dates, but are subsequently satisfied, the relevant fraction of PSUs will vest.
This announcement contains inside information.
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 | Justin Nolan | |||
2. | Reason for the Notification | ||||
a) | Position/status | PDMR | |||
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 |
| PSUs in respect of Ordinary Shares |
| |
Identification Code |
| GB00BZ15CS02 |
|
| |
b) | Nature of the transaction | Grant of PSUs in respect of Ordinary Shares | |||
c) | Price(s) and volume(s) |
| Price(s) | Volume(s) |
|
PSUs - N/A | 22,250,000 | ||||
d) | Aggregated information: Aggregated volume Price | N/A | |||
e) | Date of the transaction | 22 March 2025 | |||
f) | Place of the Transaction | Not on a trading venue | |||
For further information please contact:
Argo Blockchain |
|
Investor Relations | |
Tennyson Securities |
|
Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
|
Joint Broker Guy Wheatley, CFA | +44 7493 989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Argo Blockchain PLC
View the original press release on ACCESS Newswire
FAQ
When will Justin Nolan start as CEO of Argo Blockchain (ARBK)?
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What is the vesting schedule for the new ARBK CEO's performance share units?
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