Argo Blockchain

The High Court of Justice in England and Wales has approved Argo Blockchain's restructuring plan under Part 26A of the Companies Act 2006. Trading on the London Exchange will be suspended on 11 December 2025 and the delisting will take effect on 12 December 2025; an off‑exchange trading facility via JP Jenkins will then be established. Argo will issue about 2.9 billion new ordinary shares to a JPMorgan nominee for the issuance of American Depositary Receipts to bondholders, and roughly 25.3 billion new shares to Growler Mining Tuscaloosa in exchange for debt conversion, asset transfers and exit capital. The share‑to‑ADS ratio will change on 12 December from 10:1 to 2,160:1, the UK takeover code will remain applicable for two years after the delisting, and Ralfe Hickman will join the supervisory board. » Mere på de.investing.com

Argo Blockchain shareholders approved most resolutions at the annual general meeting, including the adoption of the annual report, remuneration, and the appointment of Justin Nolan as director. However, two special resolutions to disapply pre-emption rights did not receive the required majority, and there was significant opposition to several other resolutions. The company plans to analyze the dissenting votes and will update the market in due course. » Mere på de.investing.com

Argo Blockchain has unveiled a restructuring plan to address financial difficulties, including an agreement with Growler Mining for a loan of up to $7.5 million. As part of the restructuring, Growler will acquire at least 80% of Argo shares, existing shareholders will receive only nominal compensation, and a delisting from the London Stock Exchange is likely. The company also announced a change in its board, with Maria Perrella appointed as the new chair. » Mere på de.investing.com