Argo Blockchain PLC ADR

Argo Blockchain implemented a court-approved restructuring plan that led to significant changes in its capital and ownership structure. The company issued 25,250,464,800 common shares to JPMorgan as depositary; Growler Mining Tuscaloosa received 11,690,030 non-tradable ADS and now holds economically about 87.5% of the outstanding common shares following a waiver of claims, transfer of mining assets and a cash contribution. Bondholders received 2,885,766,520 common shares (represented by ADS) and together hold roughly 10%; the bonds were delisted from NASDAQ. The common shares were delisted from the London Stock Exchange and will be traded for six months via JP Jenkins in a matched-bargain process; the company says equity is comfortably above USD 10 million. » Más en de.investing.com

Argo Blockchain said shareholders and creditors have approved the restructuring plan filed under Part 26A of the Companies Act. The plan received 81.70% approval from shareholders; holders of the 8.75% senior notes due 2026 and the secured lender voted unanimously. A court-sanction hearing is scheduled for 8 December 2025; issued securities may be eligible for exemption from US registration requirements. » Más en de.investing.com