Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 155

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 15
Chunk 155
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 31, 2024, we identified multiple deficiencies in our internal control over financial reporting that, in the aggregate, rose to the level of a material weakness. The specific deficiencies included a lack of formal documentation in respect of the intercompany recharge policy and an initial lack of audit trail within the consolidation software utilised to prepare the financial statements for the year ended December 31, 2024.

Table of Contents

Remediation Efforts

We have begun the process of, and we are focused on, designing and implementing effective internal control measures to improve our internal control over financial reporting and remediate the material weakness. As we continue to evaluate and implement improvements to our internal control over financial reporting, our senior management may decide to take additional measures to address our control deficiencies or to improve the remediation efforts described in this Annual Report. Our remediation efforts include the following:

Formal documentation in respect of the intercompany recharge policy: Subsequent to year end, we formally documented the intercompany recharge policy and corrected discrepancies in the 2024 financial reporting.

A lack of audit trail within the consolidation software: We believe that the audit trail functionality has been resolved by the software provider subsequent to the completion of our audit. We will validate the updates through testing to ensure that it meets the requirements for future periods.

Attestation Report of the Registered Public Accounting Firm

This Annual Report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report is not subject to attestation by the Company’s registered public accounting firm pursuant to rules of the SEC that permit the Company to provide only management’s report in this Annual Report.

Changes In Internal Control Over Financial Reporting

During the period ended December 31, 2024, there were no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15(f)and 15d-15(f) of the Exchange Act) that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Item 16. RESERVED

Item 16A. Audit Committee Financial Expert

The Company’s Board of Directors has determined that Maria Perrella is an audit committee financial expert. Ms. Perrella is“independent”as such term is defined in Rule 10A-3(b)(1) under the Exchange Act, and her experience is disclosed in this Annual Report under Item 6. A“ Directors and Senior Management. ”

Item 16B. Code of Ethics