Argo Blockchain (LSE:ARB) has revealed plans to delist from the London Stock Exchange as part of a wider restructuring initiative. The company intends to recapitalize by significantly reallocating its equity structure: Growler Mining will hold 87.5%, bondholders will receive 10%, and existing shareholders will retain a diluted 2.5% stake.
Following the delisting, Argo will no longer be subject to London’s regulatory and financial reporting obligations but will maintain its listing on Nasdaq. The move is expected to have a substantial impact on shareholders, including reduced trading liquidity, changes to regulatory protections, and potential tax considerations.
The decision reflects the company’s efforts to stabilize its balance sheet and realign its capital structure amid challenging market conditions for the cryptocurrency mining sector.
Company Overview
Argo Blockchain plc is a dual-listed blockchain technology company focused on large-scale cryptocurrency mining. Operating a mining facility in Quebec with offices in the US, Canada, and the UK, the company primarily uses renewable energy. In 2021, it became the first climate-positive crypto miner through its commitment to the Crypto Climate Accord.
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