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Argo Blockchain PLC Announces Grant of Equity Awards and PDMR Notifications

Friday, 24 March 2023 07:00

Argo Blockchain PLC

LONDON, UK / ACCESSWIRE / March 24, 2023 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), announces that is has granted Restricted Share Units ("RSUs"), Performance Share Units ("PSUs"), and share options ("Share Options") under the 2022 Equity Incentive Plan (the "Plan") approved by shareholders at the Company's 2022 Annual General Meeting.

Grant of Equity Awards

On 22 March 2023, the Company granted 1,973,892 PSUs and 658,623 Share Options to Seif El-Bakly, the Company's interim Chief Executive Officer. In accordance with the Company's remuneration policy, which applies to the Company's CEO, the PSUs and Share Options both contain performance conditions relevant to Mr. El-Bakly's role. The PSUs and Share Options vest over a three-year period, with first vesting occurring twelve months from the date of grant (at which point 12/36ths vest) and, thereafter the PSUs and Share Options vest at a rate of 3/36th per quarter for the remainder of the vesting period subject to the continued employment of Mr. El-Bakly and satisfaction of the performance conditions by Mr. El-Bakly.

On 9 March 2023, the Company granted 6,839,980 RSUs in aggregate to the rest of the 38 employees in order to align incentives across the full team. The RSUs vest over a three-year period, with first vesting occurring six months from the date of grant (at which point 6/36ths vest) and, thereafter, the RSUs vest at a rate of 3/36th per quarter for the remainder of the vesting period subject to the continued employment of the grantee.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

PDMR Notifications

Grant of PSUs and 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

Seif El-Bakly

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

PSUs in respect of ordinary shares

Options over ordinary shares


Identification Code

GB00BZ15CS02

b)

Nature of the transaction

Grant of PSUs in respect of ordinary shares

Grant of options over ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

PSUs - N/A

1,973,892 ordinary shares

Options - 12.88 pence per ordinary share

658,623 ordinary shares

d)

Aggregated information:

 Aggregated volume

· Price

N/A

e)

Date of the transaction

22 March 2023

f)

Place of the Transaction

Not on a trading venue

For further information please contact:

Argo Blockchain


Investor Relations

[email protected]

finnCap Ltd


Corporate Finance

Jonny Franklin-Adams

Seamus Fricker

Joint Corporate Broker

Sunila de Silva

+44 207 220 0500

Tennyson Securities


Joint Corporate Broker

Peter Krens

+44 207 186 9030

Tancredi Intelligent Communication

UK & Europe Media Relations


Salamander Davoudi

Emma Valgimigli

Fabio Galloni-Roversi Monaco

Nasser Al-Sayed

[email protected]

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, 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. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. For more information, visit www.argoblockchain.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Argo Blockchain PLC

Topic:
Regulatory
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