Argo Blockchain PLC Grant of Equity Awards and PDMR Notifications (0793U)
March 24 2023 - 3:00AM
UK Regulatory
TIDMARB
RNS Number : 0793U
Argo Blockchain PLC
24 March 2023
Press Release
24 March 2023
Argo Blockchain plc
("Argo" or "the Company")
Grant of Equity Awards and PDMR Notifications
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 12/36(th) s vest) and, thereafter the PSUs
and Share Options vest at a rate of 3/36(th) 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
6/36(th) s vest) and, thereafter, the RSUs vest at a rate of
3/36(th) 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.
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Seif El-Bakly
-------------------------------- -------------------------------------------
Reason for the Notification
2.
-----------------------------------------------------------------------------
a) Position/status PDMR
-------------------------------- -------------------------------------------
b) Initial notification Initial notification
/ Amendment
-------------------------------- -------------------------------------------
Details of the issuer, emission allowance market participant,
3. 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 PSUs in respect of ordinary shares
instrument, type of instrument 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 - 12.88 658,623 ordinary
pence per ordinary shares
share
-------------------------------- -------------------------------------------
d) Aggregated information:
Aggregated volume N/A
* Price
-------------------------------- -------------------------------------------
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 ir@argoblockchain.com
------------------------------
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 argoblock@tancredigroup.com
Emma Valgimigli
Fabio Galloni-Roversi Monaco
Nasser Al-Sayed
------------------------------
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 .
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