Company: ARBK
Filing Date: 2025-09-10
Form Type: 6-K
Source: 0001654954-25-010573
Chunk: 2

Company: Argo Blockchain Plc
Filing Date: 2025-09-10
Form: 6-K
Chunk 2
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 facility, Argo has made an initial draw of approximately US $3.26 million, with subsequent draws to be conditioned on customary closing conditions, including that the Amended RSA remain in full force and effect without having been terminated by either party. Key terms of the Loan and Security Agreements are otherwise consistent with those announced on 30 June 2025.

#### Next Steps
The Company intends to initiate the Recapitalization Plan process as soon as possible with a view to seeking Court sanction by early- to mid-December 2025. If the Recapitalization Plan is not consummated, the Company and its subsidiaries may be required to pursue insolvency proceedings in the UK, U.S., and Canada, as applicable.

The Court will be asked to sanction the Recapitalization Plan. If the Recapitalization Plan has not been approved by all meetings of creditors and equity holders, convened in accordance with the orders of the Court to consider the Recapitalization Plan, the Court may, in its discretion, still sanction the Recapitalization Plan if satisfied that, amongst other matters (a) the Recapitalization Plan has been approved by at least one "in the money" class of creditors or members; and (b) any dissenting class is no worse off under the Recapitalization Plan than it would be in the relevant alternative to the Recapitalization Plan ("Relevant Alternative").

#### UK Takeover Code Disclosure
The implementation of the Recapitalization Plan is expected to result in Growler acquiring interests in shares carrying at least 80% of the Company's voting rights. Under the UK Takeover Code, Growler's acquisition of at least 30% of the Company's voting rights would trigger an obligation on Growler to make a mandatory offer to the remaining shareholders in the Company. The Recapitalization Plan is, therefore, conditional upon the Takeover Panel ("Panel") agreeing to a waiver of the obligation under Rule 9 of the UK Takeover Code to make a mandatory offer, subject to independent shareholders approving that waiver. If shareholders do not approve the Recapitalization Plan and a Rule 9 waiver, the Company intends to seek the sanction of the Recapitalization Plan by the Court on the basis that shareholders would be no worse off under the Recapitalization Plan than the Relevant Alternative (see above). In these circumstances, the Company also intends to apply to the Panel to request that the Panel permit a dispensation under section 2(c) of the Introduction of the UK Takeover Code from the obligation that would otherwise