Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 116

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 8
Chunk 116
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Item 8.    Financial Information

A.   Consolidated Statements and Other Financial Information
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See Item 18. “Financial Statements” for the annual consolidated financial statements including the notes thereto and report of its independent registered public accounting firm.
A.7.Legal Proceedings
From time to time, we may become involved in legal or regulatory proceedings, lawsuits and other claims arising in the ordinary course of business. We were previously subject to a class action lawsuit (Murphy vs. Argo Blockchain plc) which was dismissed with prejudice and without the ability to replead the case, however, we may again be the target of this type of litigation in the future. In view of the inherent difficulty of predicting the outcome of such matters, we cannot state what the eventual outcome of any other matters that we may become involved in will be. Based on our knowledge, we are not presently a party to any legal proceedings that, in the opinion of our management, would individually or taken together as a whole would have a material adverse effect on our business, operating results, financial condition, or cash flows. Regardless of outcome, litigation can have an adverse impact on the Company due to defense and settlement costs, diversion of management resources, negative publicity and reputational harm, and other factors.
A.8.Dividends
We have never declared or paid any cash dividends on our ordinary shares. We intend to retain earnings, if any, for use in our business and do not anticipate paying any cash dividends in the foreseeable future. Under current English law, a company’s accumulated realized profits must exceed its accumulated realized losses (on a non-consolidated basis) before dividends can be declared and paid. Therefore, we must have distributable profits before declaring and paying a dividend. In addition, as a public limited company incorporated in England and Wales, we will only be able to make a distribution if the amount of our net assets is not less than the aggregate of our called-up share capital and undistributable reserves and if, and to the extent that, the distribution does not reduce the amount of those assets to less than that aggregate.

B.   Significant Changes
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Except as disclosed in this annual report on Form 20-F, no significant changes have occurred since December 31, 2024, the date of the financial statements included in this Annual Report on Form 20-F.

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