LONDON, UK / ACCESSWIRE / March 24, 2023 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), announces that it has issued restricted share units (“RSUs”), performance share units (“PSUs”) and stock options (“units “) Options”) under the share incentive plan for 2022 (the “Plan”) approved by the shareholders at the company’s 2022 annual general meeting.
Grant of Equity Awards
On March 22, 2023, the Company granted 1,973,892 PSUs and 658,623 stock options to Seif El-Bakly, the Company’s interim CEO. In accordance with the Company’s remuneration policy, which applies to the Company’s CEO, both the PSUs and the stock options contain performance conditions relevant to Mr. El-Bakly’s role. The PSUs and stock options vest over a three-year period, with first vesting twelve months from the grant date (at which time 12/36ths vest) and then the PSUs and stock 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 March 9, 2023, the Company granted an aggregate of 6,839,980 RSUs to the remaining 38 employees to align incentives across the entire team. The RSUs vest over a three-year period, with the first vesting six months from the grant date (at which time 6/36ths vest) and then the RSUs vest at a rate of 3/36th per quarter for the remainder of the accrual period subject to continued employment of the grant recipient.
The information communicated in this announcement is inside information in accordance with Article 7 of Regulation 596/2014.
PDMR Alerts
Allotment of PSUs and options
Notification and publication of transactions by persons exercising managerial responsibilities and persons closely related to them.
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1. |
Details of the person carrying out managerial responsibilities/person closely associated |
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one) |
Name |
Seif El-Bakly |
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2. |
Reason for the notice |
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one) |
Position/status |
PDMR |
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b) |
Initial notification / change |
Introductory message |
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3. |
Details of issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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one) |
Name |
Argo Blockchain PLC |
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b) |
SORRY |
213800WPCCYSDYY26J54 |
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4. |
Details of the transaction(s): paragraph to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each location where transactions have been conducted |
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one) |
Description of the financial instrument, type of instrument |
PSUs for ordinary shares Options over ordinary shares |
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Identification code |
GB00BZ15CS02 |
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b) |
The nature of the transaction |
Grant of PSUs for ordinary shares Grant of options over ordinary shares |
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c) |
Price(s) and volume(s) |
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d) |
General information: Aggregate volume · Price |
NOW |
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e) |
Date of the transaction |
March 22, 2023 |
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f) |
Place of the transaction |
Not on a trading floor |
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For further information please contact:
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Argo Blockchain |
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Investor Relations |
[email protected] |
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finnCap Ltd |
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Business economics Jonny Franklin-Adams Seamus Fricker Joint business broker Sunila de Silva |
+44 207 220 0500 |
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Tennyson Securities |
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Joint business broker Peter Krens |
+44 207 186 9030 |
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Tancredi intelligent communication Media relations in the UK and Europe |
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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 powered primarily by renewable energy. In 2021, Argo became the first climate-positive cryptocurrency mining company, signing 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 UK. 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
