Argo Blockchain PLC - London-based blockchain technology company focused on cryptocurrency mining with operations in the US and Canada - Set to delist from London Stock Exchange from Friday, so Thursday is the last day of trading for the stock. This follows the UK High Court on Wednesday sanctioning Argo Blockchain’s restructuring plan. The company will remain listed on the Nasdaq Global Select Market in New York, and under the restructuring plan, it will issue American depositary shares to its bondholders and to operating partner Growler Mining Tuscaloosa LLC. Argo Blockchain also will make its shares available on the JP Jenkins matched bargain share dealing facility in London.
Ralfe Hickman will be appointed to the board on Friday as a representative of Growler. ‘The sanctioning of the restructuring plan results in a recapitalised balance sheet positioned for growth,’ comments Argo Chief Executive Officer Justin Nolan. ‘The board is grateful to Growler, and in particular, [Growler manager] Stan Pate and his team, for supporting the company over the last few months. While the board is saddened to leave the London market, the company emerges with a recapitalised balance sheet, new power infrastructure and mining equipment from Growler as well as its Nasdaq listing.’
Current stock price in London: 0.80 pence for $7.0 million market capitalisation
12-month change: down 87%
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