TIDMARB
RNS Number : 6730U
Argo Blockchain PLC
27 November 2023
Press Release
27 November 2023
Argo Blockchain plc
("Argo" or "the Company")
Appointment of Chief Executive Officer and PDMR Notification
Argo Blockchain plc, a global leader in cryptocurrency mining
(LSE: ARB; NASDAQ: ARBK), is pleased to announce that it has
appointed Thomas Chippas as Chief Executive Officer and Director
with immediate effect.
Thomas Chippas, most recently the Chief Executive Officer of
CBOE Digital and a former member of its Board of Directors, is a
New York-based executive with significant experience in digital
assets, technology and financial services. He has previously held
the positions of Chief Executive Officer of Citadel Technology LLC,
Chief Operating Officer of Axoni and Managing Director of
Citigroup, Barclays and Deutsche Bank. He also serves as a director
of TS Imagine.
Argo's chairman, Matthew Shaw said, "We are excited to welcome
Tom to the Argo team. Tom is a proven technology and financial
leader who will work with the Argo leadership team to drive
operational excellence and stakeholder value." Mr. Shaw continued,
"This appointment comes at a transformational time and Argo will be
well served by Tom's ability to take advantage of the opportunities
that lie ahead."
Thomas Chippas said, "I am honored and excited to join Argo. The
pace of innovation in the Bitcoin mining industry continues to
increase as miners seek ever greater efficiency and capacity in
preparation for the Bitcoin halving and beyond. Together with the
Argo team, I look forward to pursuing the opportunities ahead."
In connection with the appointment, the Company has awarded
2,850,000 performance share units relating to the Company's
American Depositary Shares ("PSUs") to Thomas Chippas. In
accordance with the Company's remuneration policy, which applies to
the Company's CEO, the PSUs contain performance conditions relevant
to Mr. Chippas' 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. Chippas 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.
The Board of Directors of the Company intends to grant further
PSUs to Mr. Chippas on the first and second anniversary of his
appointment subject to the limitations imposed by Argo's
shareholder-approved remuneration policy and its authority to allot
and issue new securities.
This announcement contains inside information.
PDMR notification
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Thomas Chippas
-------------------------------- ---------------------------------------
Reason for the Notification
2.
-------------------------------------------------------------------------
a) Position/status PDMR
-------------------------------- ---------------------------------------
b) Initial notification / Initial notification
Amendment
-------------------------------- ---------------------------------------
Details of the issuer, emission allowance market participant,
3. 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 PSUs in respect of American Depositary
instrument, type of instrument Shares
Identification Code GB00BZ15CS02
-------------------------------- ---------------------------------------
b) Nature of the transaction Grant of PSUs in respect of American
Depositary Shares
-------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
PSUs - N/A 2,850,000ADS
-------------
-------------------------------- ---------------------------------------
d) Aggregated information: N/A
Aggregated volume
Price
-------------------------------- ---------------------------------------
e) Date of the transaction 27 November 2023
-------------------------------- ---------------------------------------
f) Place of the Transaction Not on a trading venue
-------------------------------- ---------------------------------------
For further information please contact:
Argo Blockchain
Investor Relations ir@argoblockchain.com
---------------------------------------
Tennyson Securities
---------------------------------------
Corporate Broker
Peter Krens +44 207 186 9030
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Fortified Securities
---------------------------------------
Joint Broker +44 7493 989014
Guy Wheatley, CFA guy.wheatley@fortifiedsecurities.com
---------------------------------------
Tancredi Intelligent Communication
UK & Europe Media Relations
---------------------------------------
Salamander Davoudi argoblock@tancredigroup.com
Helen Humphrey
---------------------------------------
Forward-Looking Statements
This announcement contains inside information and includes
forward-looking statements which reflect the Company's current
views, interpretations, beliefs or expectations with respect to the
Company's financial performance, business strategy and plans and
objectives of management for future operations. These statements
include forward-looking statements both with respect to the Company
and the sector and industry in which the Company operates.
Statements which include the words "remains confident", "expects",
"intends", "plans", "believes", "projects", "anticipates", "will",
"targets", "aims", "may", "would", "could", "continue", "estimate",
"future", "opportunity", "potential" or, in each case, their
negatives, and similar statements of a future or forward-looking
nature identify forward-looking statements. All forward-looking
statements address matters that involve risks and uncertainties
because they relate to events that may or may not occur in the
future. Forward-looking statements are not guarantees of future
performance. Accordingly, there are or will be important factors
that could cause the Company's actual results, prospects and
performance to differ materially from those indicated in these
statements. In addition, even if the Company's actual results,
prospects and performance are consistent with the forward-looking
statements contained in this document, those results may not be
indicative of results in subsequent periods. These forward-looking
statements speak only as of the date of this announcement. Subject
to any obligations under the Prospectus Regulation Rules, the
Market Abuse Regulation, the Listing Rules and the Disclosure and
Transparency Rules and except as required by the FCA, the London
Stock Exchange, the City Code or applicable law and regulations,
the Company undertakes no obligation publicly to update or review
any forward-looking statement, whether as a result of new
information, future developments or otherwise. For a more complete
discussion of factors that could cause our actual results to differ
from those described in this announcement, please refer to the
filings that Company makes from time to time with the United States
Securities and Exchange Commission and the United Kingdom Financial
Conduct Authority, including the section entitled "Risk Factors" in
the Company's Annual Report on Form 20-F.
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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END
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