Company: ARBK
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0001654954-25-004841
Chunk: 1

Company: Argo Blockchain Plc
Filing Date: 2025-04-30
Form: 6-K
Chunk 1
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 is due to management time and auditor resources being directed toward the restatement of the Company's annual report on Form 20-F for the year ended 31 December 2023 ( 2023 20-F ). The restatement was filed in response to a comment letter received from the Securities and Exchange Commission ( SEC ) in connection with the SEC's review of the 2023 20-F to clarify the accounting treatment of the Company's digital assets. The restatement had to be completed prior to the finalisation of the 2024 Financial Statements.The Company filed its restated accounts with the SEC on 22 April 2025 and the SEC completed their review on 25 April 2025. The result of the restatement of the 2023 20-F was a decrease to the net loss in 2023 and 2022 and a decrease to net income in 2021. There was a reclassification of cash flows between operating activities and investing activities. There was no change to revenue or cash in any of the periods reported.

As a result of this delay, the Company has, in accordance with the UK Listing Rules, requested a temporary suspension of the listing of its ordinary shares from the Official List of the FCA and from trading on the Main Market of the London Stock Exchange with effect from 7:30 a.m. on 1 May 2025, pending publication of the 2024 Financial Statements.

The Company is working diligently with its auditors, PKF Littlejohn LLP, to complete the audit of the 2024 Financial Statements and expects to publish them on or around 9 May 2025. The Company will request a restoration of the listing of and trading in its ordinary shares following the publication of the 2024 Financial Statements.

In the meantime, the Company is providing the following unaudited preliminary financial highlights for the year ended 31 December 2024 with 31 December 2023 comparative:

|                                   |       2024 |       2023 |
|                                   | -$millions | -$millions |
|                                   | -unaudited |            |
| Total revenue:                    |      $47.0 |      $50.6 |
| Net loss:                         |     -$54.4 |     -$34.6 |
| Adjusted EBITDA                   |       $5.6 |       $7.7 |
| Cash balance at 31 December 2024: |       $8.6 |       $7.4 |

These preliminary results are una