Argo Blockchain PLC Announces Result of Annual General Meeting

Rhea-AI Summary

Argo Blockchain announced the results of its annual general meeting held on June 29, 2022. All resolutions were approved, including ordinary resolutions 1 to 10 and special resolutions 11 to 14. Notable votes included the approval of the Directors’ Remuneration Report by 74.23% and the 2022 Equity Incentive Plan by 71.47%. The board acknowledged the significant opposition to these resolutions and expressed its commitment to engaging with shareholders to address their concerns.

Positive

• All resolutions passed with required majority.
• High approval rates for key resolutions, indicating shareholder support.

Negative

• Directors' Remuneration Report faced 25.77% opposition.
• 2022 Equity Incentive Plan faced 28.53% opposition.

LONDON, ENGLAND / ACCESSWIRE / June 29, 2022 / Argo Blockchain plc, (LSE:ARB; NASDAQ:ARBK), a global leader in cryptocurrency mining, is pleased to announce the results of the Company's annual general meeting held today, 29 June 2022.

A poll was held on each of the resolutions and all of the resolutions were passed by the required majority. Resolutions 1 to 10 (inclusive) were passed as ordinary resolutions and resolutions 11 to 14 (inclusive) were passed as special resolutions. The results of the poll were as follows:

Resolutions		For		Against		Total Votes	% of ISC Voted	Votes Withheld
		Votes	%	Votes	%
Ordinary Resolutions
1.	To receive the Annual Report and Accounts	76,171,632	99.45%	424,304	0.55%	76,595,936	16.05%	471,341
2.	To approve the Directors' Remuneration Report	56,894,073	74.23%	19,755,303	25.77%	76,649,376	16.07%	417,901
3.	To re-appoint Alex Appleton as a director of the Company	72,021,242	93.99%	4,601,570	6.01%	76,622,812	16.06%	444,465
4.	To re-appoint Sarah Gow as a director of the Company	67,461,572	88.03%	9,169,259	11.97%	76,630,831	16.06%	436,446
5.	To re-appoint Maria Perrella as a director of the Company	67,478,115	88.06%	9,151,696	11.94%	76,629,811	16.06%	437,466
6.	To re-appoint Raghav Chopra as a director of the Company	74,845,245	97.67%	1,788,257	2.33%	76,633,502	16.06%	433,775
7.	To re-appoint PKF Littlejohn as auditors of the Company	75,922,291	98.98%	779,536	1.02%	76,701,827	16.08%	365,450
8.	To authorise the directors to determine the auditor's remuneration	75,843,592	98.91%	838,555	1.09%	76,682,147	16.07%	385,250
9.	To approve the 2022 Equity Incentive Plan	54,754,888	71.47%	21,853,939	28.53%	76,608,827	16.06%	458,450
10.	Authority to allot shares	73,772,816	96.21%	2,905,598	3.79%	76,678,414	16.07%	388,863
Special Resolutions
11.	General authority to disapply pre-emption rights	75,111,150	98.17%	1,403,399	1.83%	76,514,549	16.04%	552,728
12.	Additional authority to disapply pre-emption rights	74,576,697	97.51%	1,903,319	2.49%	76,480,016	16.03%	587,261
13.	Notice of general meetings	72,385,655	94.30%	4,373,926	5.70%	76,759,581	16.09%	307,696
14.	Authority to purchase own shares	76,100,181	99.13%	668,540	0.87%	76,768,721	16.09%	298,556

The Board is pleased that Resolution 2 (Directors Remuneration Report) and Resolution 9 (Equity Incentive Plan) were passed with significant majorities, but notes the votes against these resolutions. In accordance with the QCA Corporate Governance Code, the Board will continue its engagement with shareholders to discuss their concerns on the above resolutions.

For further information please contact:

Argo Blockchain
Peter Wall Chief Executive	via Tancredi +44 203 434 2334
finnCap Ltd
Corporate Finance Jonny Franklin-Adams Tim Harper Joint Corporate Broker Sunila de Silva	+44 207 220 0500
Tennyson Securities
Joint Corporate Broker Peter Krens	+44 207 186 9030
OTC Markets
Jonathan Dickson jonathan@otcmarkets.com	+44 204 526 4581 +44 7731 815 896
Tancredi Intelligent Communication UK & Europe Media Relations
Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed argoblock@tancredigroup.com	+44 7727 180 873 +44 7888 672 701 +44 7915 033 739

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With its flagship mining facility 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. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. 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 source version on accesswire.com:
https://www.accesswire.com/706922/Argo-Blockchain-PLC-Announces-Result-of-Annual-General-Meeting

FAQ

What were the results of the Argo Blockchain annual general meeting on June 29, 2022?

All resolutions at Argo Blockchain's annual general meeting were approved, including significant votes for the Directors' Remuneration Report and the 2022 Equity Incentive Plan.

What is the stock symbol for Argo Blockchain?

The stock symbol for Argo Blockchain is ARBK.

How did shareholders respond to the Directors' Remuneration Report at Argo Blockchain's AGM?

The Directors' Remuneration Report received 74.23% approval but faced 25.77% opposition.

What was the approval rate for the 2022 Equity Incentive Plan at Argo Blockchain's AGM?

The 2022 Equity Incentive Plan was approved by 71.47% of shareholders, with 28.53% voting against it.