Argo Blockchain PLC Company Update Notification Re Minimum Bid Price
January 17 2025 - 1:00AM
RNS Regulatory News
RNS Number : 6717T
Argo Blockchain PLC
17 January 2025
Press Release
17 January 2025
Argo Blockchain
plc
("Argo"
or "the Company")
Argo Receives Nasdaq
Notification Regarding Minimum Bid Price
Deficiency
Argo Blockchain plc (LSE: ARB;
NASDAQ: ARBK), announces today that it has received written
notification (the "Notification Letter") from the Nasdaq Stock
Market LLC Listing Qualifications Department ("Nasdaq") that it is
not in compliance with the minimum bid price requirement set forth
in Nasdaq Rule 5450(a)(1) since the closing bid price for the
Company's American Depositary Shares ("ADS") listed on the Nasdaq
Global Select Market was below $1.00 for 30 consecutive business
days.
In accordance with Listing Rule
5810(c)(3)(A), the Company has until 15 July 2025, to regain
compliance with the minimum bid price requirement, during which
time the ADSs are expected to continue to trade on the Nasdaq
Global Select Market. If at any time before 15 July 2025, the bid
price of the ADSs closes at or above $1.00 per share for a minimum
of 10 consecutive business days, Nasdaq will provide written
notification that the Company has achieved compliance with the
minimum bid price requirement and will consider such deficiency
matters closed.
The Notification Letter does not
affect the Company's business operations, and it does not affect
the Company's listing on the London Stock Exchange.
The Company intends to monitor the
bid price of its ADSs between now and 15 July 2025, and to evaluate
all available options to resolve the deficiency and regain
compliance with Nasdaq Rule 5450(a)(1).
This announcement contains inside
information.
For further information please
contact:
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.
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END
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