Company: ARBK
Filing Date: 2025-05-09
Form Type: 6-K
Source: 0001654954-25-005344
Chunk: 2

Company: Argo Blockchain Plc
Filing Date: 2025-05-09
Form: 6-K
Chunk 2
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#### Forward looking statements
This announcement contains "forward-looking statements," which can be identified by words like "may," "will," "likely," "should," "expect," "anticipate," "future," "plan," "believe," "intend," "goal," "seek," "estimate," "project," "continue" and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The information in this announcement about future plans and objectives of the Company are forward-looking statements. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, market and other conditions, the principal risks and uncertainties listed in the risk factors set forth in our Annual Report and Financial Statements and Form 20-F for the year ended 31 December 2024.

CHAIRMAN’S STATEMENT

For the past 24 months, the Company has focused on three key pillars: financial discipline, operational excellence, and strategic partnerships for growth. We have made significant progress on financial discipline and operational excellence; strategic partnerships will be key for 2025 as Argo aims to strengthen its balance sheet and grow its hashrate.

Financial Discipline

The focus for Argo has been to reduce the high-interest rate debt owing to Galaxy. The $35 million debt owed to Galaxy began amortising at $1.1 million per month in May 2023. As noted in my 28 August 2024 update to shareholders, I am pleased to report that Argo has repaid the full amount of this loan to Galaxy as announced by the Company on August 12th. This Galaxy debt was repaid four months ahead of the revised schedule, and nearly 18 months ahead of the original repayment schedule. The early repayment reflects the Company's focus on strengthening its balance sheet, reducing its financial liabilities, and focusing on operational excellence. Repayment was made possible by using cash flow generated from operations, cash generated