Form 6-K Argo Blockchain Plc For: May 25

May 25, 2022 6:37 AM EDT

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
 
FORM 6-K
 
_____________________
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
 
For the month of May, 2022
 
Commission File Number: 001-40816
 
_____________________
 
Argo Blockchain plc
(Translation of registrant’s name into English)
_____________________
 
9th Floor
16 Great Queen Street
London WC2B 5DG
England
(Address of principal executive office)
_____________________
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
                                                                                                                                                                                                                                                                         Form 20-F    Form 40-F
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
 
 
 
 
EXHIBIT INDEX
 
Exhibit No.
 
       1
 
Description
 
PDMR Dealings & Option Grants dated 25 May 2022
 
 
 
.. 25 May 2022
 
 
Argo Blockchain PLC
 
 
('Argo' or 'The Company') 
 
Grant and Exercise of Options and PDMR Dealings
 
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), announces that:
 
●       between 19 and 23 May 2022, certain directors purchased ordinary shares of £0.001 each in the capital of the Company ("Ordinary Shares") and American Depositary Receipts representing Ordinary Shares ("ADRs");
 
●       on 23 May 2022, Peter Wall and an employee of the Company exercised options ("Options") over a total of 1,595,000 Ordinary Shares;
 
●       on 23 May 2022, the Company granted Options over 500,000 Ordinary Shares to Raghav Chopra, a non-executive director of the Company; and
 
●       on 23 May 2022, the Company granted in aggregate Options over 4,350,000 Ordinary Shares to the Company's staff and employees.
 
Purchase of Shares/ADRs
 
Between 19 and 23 May the following directors purchased Ordinary Shares/ADRs:
 
PDMR / Person closely associated
 
Purchased
 
Weighted average price per Ordinary Share/ADR
 
Maria Perrella
 
6,000 ADRs
 
US$6.54 per ADR
 
Sarah Gow
 
20,000 Ordinary Shares
 
£0.4920 per Ordinary Share
 
Alex Appleton
 
39,415 Ordinary Shares
 
£0.4974 per Ordinary Share
 
 
 
Exercise of Options
 
On 23 May 2022, Peter Wall exercised Options over 430,000 Ordinary Shares at an exercise price of £0.070 per Ordinary Share. Currently, Peter Wall has no intentions to sell said Ordinary Shares. In addition, an employee of the Company exercised Options over 1,165,000 Ordinary Shares at an exercise price of £0.070 per Ordinary Share.
 
As a result of the above Options being exercised, the Company has issued in aggregate 1,595,000 new Ordinary Shares. The aggregate gross proceeds to the Company from this option exercise is £111,650. Application will be made for the new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange, and admission is expected to occur at 8:00 a.m. on 30 May 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.
 
Grant of Options
 
On 23 May 2022, the Company granted Options as follows:
 
●       over 500,000 Ordinary Shares to Raghav Chopra, a non-executive director of the Company; and
 
●       over 4,350,000 Ordinary Shares to the Company's staff and employees.
 
The Options have an exercise price of between £0.490 and £0.506 (as determined in accordance with the rules of the relevant share option plan under which they were granted) and vest as follows: 6/36th of the Options vest on 23 November 2022 and thereafter 1/36th vest monthly such that 100% of the Options vest on 23 May 2025. As Raghav Chopra is a non-executive director of the Company, there are no performance conditions attached to the Options granted to him.
 
 
Enlarged Share Capital
 
 
Following admission of all of shares arising from the exercise of Options (which is expected to be on 30 May 2022), the total number of Ordinary Shares in issue will be 469,677,335 and the total number of voting rights will therefore be 469,677,335. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
 
 
PDMR Notifications
 
Share Purchases
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
 
1.
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Maria Perrella
 
2.
 
Reason for the Notification
 
a)
 
Position/status
 
PDMR
 
b)
 
Initial notification / Amendment
 
Initial notification
 
3.
 
Details of the issuer, emission allowance market participant, 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 instrument, type of instrument
 
American Depositary Receipts in respect of Ordinary shares ("ADRs")
 
 
Identification Code
 
US0401261047
 
b)
 
Nature of the transaction
 
Purchase of ADRs
 
c)
 
Price(s) and volume(s)
 
Price(s)
 
Volume(s)
US$6.54  per ADR
 
6,000 ADRs
d)
 
Aggregated information:
 
· Aggregated volume
 
· Price
 
 
 
6,000 ADRs
 
US$6.54 per ADR
 
e)
 
Date of the transaction
 
19 May 2022
 
f)
 
Place of the Transaction
 
NASDAQ
 
 
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
 
1.
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Sarah Gow
 
2.
 
Reason for the Notification
 
a)
 
Position/status
 
PDMR
 
b)
 
Initial notification / Amendment
 
Initial notification
 
3.
 
Details of the issuer, emission allowance market participant, 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 instrument, type of instrument
 
Ordinary Shares
 
 
Identification Code
 
GB00BZ15CS02
 
b)
 
Nature of the transaction
 
Purchase of Shares
 
c)
 
Price(s) and volume(s)
 
Price(s)
 
Volume(s)
£0.492
 
20,000 Ordinary Shares
d)
 
Aggregated information:
 
· Aggregated volume
 
· Price
 
 
 
20,000 Ordinary Shares
 
£0.492 per Ordinary Share
 
e)
 
Date of the transaction
 
19 May 2022
 
f)
 
Place of the Transaction
 
London Stock Exchange
 
 
 
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
 
1.
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Alex Appleton
 
2.
 
Reason for the Notification
 
a)
 
Position/status
 
PDMR
 
b)
 
Initial notification / Amendment
 
Initial notification
 
3.
 
Details of the issuer, emission allowance market participant, 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 instrument, type of instrument
 
Ordinary Shares
 
 
Identification Code
 
GB00BZ15CS02
 
b)
 
Nature of the transaction
 
Purchase of Shares
 
c)
 
Price(s) and volume(s)
 
Price(s)
 
Volume(s)
£0.4974
 
39,415 Ordinary Shares
d)
 
Aggregated information:
 
· Aggregated volume
 
· Price
 
 
 
39,415 Ordinary Shares
 
£0.4974 per Ordinary Share
 
e)
 
Date of the transaction
 
23 May 2022
 
f)
 
Place of the Transaction
 
London Stock Exchange
 
 
 
 
Exercise of Options
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
 
1.
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Peter Wall
 
2.
 
Reason for the Notification
 
a)
 
Position/status
 
PDMR
 
b)
 
Initial notification / Amendment
 
Initial notification
 
3.
 
Details of the issuer, emission allowance market participant, 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 instrument, type of instrument
 
Ordinary shares
 
 
Identification Code
 
GB00BZ15CS02
 
b)
 
Nature of the transaction
 
Exercise of Options
 
c)
 
Price(s) and volume(s)
 
Price(s)
 
Volume(s)
£0.070 per Ordinary Share
 
430,000 Ordinary Shares
d)
 
Aggregated information:
 
· Aggregated volume
 
· Price
 
 
 
430,000 Ordinary Shares
 
£0.070 per Ordinary Share
 
e)
 
Date of the transaction
 
23 May 2022
 
f)
 
Place of the Transaction
 
Not on a trading venue
 
 
 
Grant of Options
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
 
1.
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Raghav Chopra
 
2.
 
Reason for the Notification
 
a)
 
Position/status
 
PDMR
 
b)
 
Initial notification / Amendment
 
Initial notification
 
3.
 
Details of the issuer, emission allowance market participant, 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 instrument, type of instrument
 
Options over ordinary shares
 
 
Identification Code
 
GB00BZ15CS02
 
b)
 
Nature of the transaction
 
Grant of options over Ordinary Shares
 
c)
 
Price(s) and volume(s)
 
Price(s)
 
Volume(s)
£0.490 per Ordinary Share
 
500,000 Ordinary Shares
d)
 
Aggregated information:
 
· Aggregated volume
 
· Price
 
 
 
Options over 500,000 Ordinary Shares
 
£0.490 per Ordinary Share
 
e)
 
Date of the transaction
 
23 May 2022
 
f)
 
Place of the Transaction
 
Not on a trading venue
 
 
 
 
Inside Information and Forward-Looking Statements
 
 
This announcement contains inside information and includes forward-looking statements which reflect the Company's or, as appropriate, the Directors' 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 "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 Registration Statement on Form F-1.
 
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
 
 
+44 204 526 4581
 
+44 7731 815 896
 
Tancredi Intelligent Communication
 
UK & Europe Media Relations
 
 
Emma Valgimigli
 
Emma Hodges
 
Fabio Galloni-Roversi Monaco
 
Nasser Al-Sayed
 
 
+44 7727 180 873
 
+44 7861 995 628
 
+44 7888 672 701
 
+44 7915 033 739
 
 
About Argo:
 
 
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the Nasdaq Global Select Market in the United States under the ticker: ARBK.
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Date: 25 May, 2022
ARGO BLOCKCHAIN PLC
By:
 
Name: Peter Wall
Title: Chief Executive Officer
 
Name: David Zapffe
Title: General Counsel
 
 


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings