Company: ARBK
Filing Date: 2025-06-30
Form Type: 6-K
Source: 0001654954-25-007500
Chunk: 4

Company: Argo Blockchain Plc
Filing Date: 2025-06-30
Form: 6-K
Chunk 4
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 is expected that the Restructuring Plan will be presented to the Court by 29 August 2025 and, if sanctioned by the Court, the Effective Date will be before 30 November 2025.

#### Takeover Code
The implementation of the Restructuring Plan will result in Growler acquiring interests in shares carrying more than 30% of the Company's voting rights. Under the UK Takeover Code, Growler's acquisition would trigger an obligation on Growler to make a mandatory offer to the remaining shareholders in Argo. The Restructuring Plan is, therefore, conditional upon the Takeover Panel agreeing to a waiver of the obligation under Rule 9 to make a mandatory offer, subject to independent shareholders approving that waiver. If shareholders do not approve the Restructuring Plan and a Rule 9 waiver, Argo intends to seek the sanction of the Restructuring Plan by the Court on the basis that shareholders would be no worse off under the Plan than the Relevant Alternative (see above). In these circumstances, Argo 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 arise on Growler to make a mandatory offer under Rule 9 in order to facilitate the rescue of Argo which is in serious financial difficulty.

#### No assurance of definitive agreements
There can be no assurance that any definitive agreements for the Restructuring Plan will be signed or that the Restructuring Plan will be consummated. Should Argo be unsuccessful in completing the Restructuring Plan, it is likely that Argo will need to enter into a formal insolvency process.

#### Directorate Change
Matthew Shaw has resigned from his position as Chairman and Director of the Company with effect from 27 June 2025. The Board wishes to thank Mr. Shaw for his service and contribution to the Company during his tenure and wishes him well in his future endeavours.

The Company is pleased to announce the appointment of Maria Perrella, currently serving as a Non-Executive Director, as Chair of the Board with immediate effect.

Justin Nolan, Chief Executive Officer, said, "This transaction is the culmination of a months-long process designed to preserve Argo's operations and maximize value for Argo's stakeholders. The Restructuring Plan gives Argo a clear path forward with a significantly deleveraged balance sheet and a long-term strategic investor in Growler."

This announcement contains inside information.

For further information please contact:

| Argo