Argo Blockchain PLC Announces Block Listing Application
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has applied for a block listing of 31,406,429 ordinary shares with the Financial Conduct Authority and London Stock Exchange. This is related to a warrant granted to an investor from the company's July 30, 2024 fundraising. The Block Listing Shares are expected to be admitted to trading on August 16, 2024. These shares represent the remaining balance of Argo's exemption from issuing a prospectus under Prospectus Regulation Rules. The company plans to apply for an additional block listing of 26,393,571 ordinary shares in January 2025. When issued, the new shares will have equal ranking with existing ordinary shares.
Argo Blockchain plc, leader globale nel mining di criptovalute (LSE:ARB)(NASDAQ:ARBK), ha richiesto un blocco di 31.406.429 azioni ordinarie presso la Financial Conduct Authority e la Borsa di Londra. Questa richiesta è relativa a un warrant concesso a un investitore nel fundraising della società del 30 luglio 2024. Si prevede che le azioni del Blocco siano ammesse alla negoziazione il 16 agosto 2024. Queste azioni rappresentano il saldo residuo dell'esenzione di Argo dall'emissione di un prospetto ai sensi delle Regole del Regolamento sul Prospetto. La società prevede di richiedere un blocco aggiuntivo di 26.393.571 azioni ordinarie a gennaio 2025. Una volta emesse, le nuove azioni avranno lo stesso rango delle azioni ordinarie esistenti.
Argo Blockchain plc, líder global en minería de criptomonedas (LSE:ARB)(NASDAQ:ARBK), ha solicitado un bloqueo de 31.406.429 acciones ordinarias a la Autoridad de Conducta Financiera y a la Bolsa de Valores de Londres. Esta solicitud está relacionada con un warrant otorgado a un inversor durante la recaudación de fondos de la compañía del 30 de julio de 2024. Se espera que las acciones del Bloque sean admitidas a negociación el 16 de agosto de 2024. Estas acciones representan el saldo restante de la exención de Argo para emitir un prospecto según las Reglas del Reglamento de Prospecto. La empresa planea solicitar un bloqueo adicional de 26.393.571 acciones ordinarias en enero de 2025. Una vez emitidas, las nuevas acciones tendrán el mismo rango que las acciones ordinarias existentes.
Argo Blockchain plc는 글로벌 암호화폐 채굴의 선두주자 (LSE:ARB)(NASDAQ:ARBK)로, 31,406,429주 보통주의 블록 상장을 금융행위감독청 및 런던 증권 거래소에 신청했습니다. 이 신청은 2024년 7월 30일 회사의 자금 조달 시 투자자에게 부여된 워런트와 관련이 있습니다. 블록 상장 주식은 2024년 8월 16일에 거래 승인을 받을 것으로 예상됩니다. 이 주식은 안내서 발행 면제의 남은 잔액을 나타냅니다. 회사는 2025년 1월에 26,393,571주 보통주의 추가 블록 상장을 신청할 계획입니다. 발행되면 새 주식은 기존 보통주와 동등한 순위를 가집니다.
Argo Blockchain plc, un leader mondial dans le minage de cryptomonnaies (LSE:ARB)(NASDAQ:ARBK), a demandé un blocage de 31.406.429 actions ordinaires auprès de la Financial Conduct Authority et de la Bourse de Londres. Cette demande est liée à un warrant accordé à un investisseur lors de la levée de fonds de l'entreprise du 30 juillet 2024. On s'attend à ce que les actions du Bloc soient admises à la négociation le 16 août 2024. Ces actions représentent le solde restant de l'exemption d'Argo d'émettre un prospectus selon les règles de régulation des prospectus. La société prévoit de demander un blocage supplémentaire de 26.393.571 actions ordinaires en janvier 2025. Une fois émises, les nouvelles actions auront le même rang que les actions ordinaires existantes.
Argo Blockchain plc, ein globaler Marktführer im Bereich Krypto-Mining (LSE:ARB)(NASDAQ:ARBK), hat einen Blocklisting von 31.406.429 Stammaktien bei der Financial Conduct Authority und der London Stock Exchange beantragt. Dies steht im Zusammenhang mit einem Warrant, der einem Investor bei der Kapitalbeschaffung des Unternehmens am 30. Juli 2024 gewährt wurde. Es wird erwartet, dass die Blocklisting-Aktien am 16. August 2024 zum Handel zugelassen werden. Diese Aktien stellen den verbleibenden Betrag von Argos Ausnahme dar, einen Prospekt gemäß den Prospektverordnungsvorschriften auszustellen. Das Unternehmen plant, im Januar 2025 ein zusätzliches Blocklisting von 26.393.571 Stammaktien zu beantragen. Die neu ausgegebenen Aktien werden im Rang gleichwertig mit den bestehenden Stammaktien sein.
- Application for block listing of 31,406,429 ordinary shares, potentially increasing liquidity
- Planned additional block listing of 26,393,571 ordinary shares in January 2025, indicating future growth plans
- Potential dilution of existing shareholders' ownership due to new share issuance
Insights
This block listing application by Argo Blockchain is a strategic move to enhance financial flexibility. The reservation of 31,406,429 ordinary shares under a block listing, with plans for an additional 26,393,571 shares in 2025, signals potential for significant capital raising. This could be important for Argo's operations in the volatile cryptocurrency mining sector.
The pari passu ranking of these new shares with existing ones maintains shareholder equity balance. However, investors should note the potential dilution effect if all warrants are exercised. The company's use of its prospectus exemption balance indicates a cost-effective approach to capital management, potentially benefiting shareholders by avoiding expensive prospectus issuance.
Argo's block listing application reflects the ongoing capital demands in the cryptocurrency mining industry. With the crypto market's volatility, companies like Argo need flexible funding options to adapt to rapid changes in mining profitability. This move suggests Argo is preparing for potential market opportunities or challenges ahead.
The split application strategy (current and planned for 2025) indicates a measured approach to capital raising, potentially aligning with anticipated market cycles or operational milestones. Investors should monitor how Argo utilizes this financial tool and its impact on the company's market position and growth strategies in the competitive crypto mining landscape.
LONDON, UNITED KINGDOM / ACCESSWIRE / August 15, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), announces that, in connection with the warrant granted to the investor in the Company's fundraising announced on 30 July 2024 ("Warrant"), applications have been made to the Financial Conduct Authority and London Stock Exchange for the block listing of 31,406,429 ordinary shares of £0.001 each in the capital of the Company ("Block Listing Shares") to be admitted to the Official List and to trading on the London Stock Exchange's Main Market ("Admission").
The Block Listing Shares are being reserved under a block listing. The Block Listing Shares represent 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 respect of the remaining 26,393,571 ordinary shares under the Warrant 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.
Admission is expected to become effective at 8:00 am on Friday 16 August 2024.
For further information please contact:
Argo Blockchain |
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Investor Relations | |
Tennyson Securities |
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Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
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Joint Broker Guy Wheatley, CFA | +44 74930989014 |
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 mining operations in Quebec and 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.
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 accesswire.com
FAQ
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