Company: ARBK
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001654954-25-011205
Chunk: 2

Company: Argo Blockchain Plc
Filing Date: 2025-09-30
Form: 6-K
Chunk 2
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 Interim Management Report
Important Events

During the first six months of 2025, the Company continued to focus on financial discipline, including addressing its legacy debt obligations, principally its outstanding 8.75% Senior Notes due 2026.

The Company appointed Justin Nolan as Chief Executive Officer and Executive Director on 22 March 2025, as announced on 24 March 2025.

On 30 June 2025, the Company entered into and announced a Restructuring Support Agreement ("RSA") with Growler Mining, LLC n/k/a Growler Mining Tuscaloosa, LLC ("Growler"), to implement a recapitalization through a restructuring plan under Part 26A of the UK Companies Act 2006.

On 30 June 2025, the Company announced Matthew Shaw had resigned from his position as Chairman and Director of the Company with effect from 27 June 2025 and that Maria Perrella was appointed Chair of the Board with immediate effect.

On 22 August 2025 the Company announced that it did not make the scheduled interest payment on its outstanding bonds that was due on 31 July 2025, which was subject to a 30-day grace period ending on 30 August 2025, which has now lapsed.

On 9 September 2025, the Company entered into a First Amended and Restated RSA ("Amended RSA") with Growler, as announced on 10 September 2025.

Concurrently, the Company executed a secured multi-draw term loan facility of up to US$7.5 million with Growler ("Loan") to provide liquidity during the Recapitalization Plan process. An initial draw of approximately US$3.26 million was made on 9 September 2025, with further draws available provided that the Amended RSA remains in effect and customary conditions are satisfied. As of the date of this report, approximately US$4.5 million has been drawn under the Loan.

On 22 September 2025, the Company announced that it had appointed Charlotte Proctor-Worrall to the position of Chief Financial Officer, effective immediately.

Responsibility Statement

We confirm that to the best of our knowledge:

● the Interim Report has been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting;

● gives a true and fair view of the assets, liabilities, financial position and profit/loss of the Group;

● the Interim Report includes a fair review of the information required by DTR 4.2.7R of