Argo Blockchain PLC Announces Change in Executive Management
Argo Blockchain announces a change in executive management following the successful sale of its Helios facility to Galaxy Digital Holdings on December 29, 2022.
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Rhea-AI Summary
Argo Blockchain announces a change in executive management following the successful sale of its Helios facility to Galaxy Digital Holdings on December 29, 2022. Alex Appleton has resigned as Chief Financial Officer and Executive Director to explore new opportunities. Argo is currently seeking a replacement CFO and has engaged BDO Canada LLP for accounting and advisory support during the transition. CEO Peter Wall expressed gratitude for Appleton's contributions during his tenure. The company remains focused on its growth potential in the cryptocurrency mining sector, emphasizing commitment to sustainable operations.
Positive
- Successful sale of Helios facility to Galaxy Digital Holdings, enhancing liquidity.
- Ongoing search for a qualified replacement CFO to strengthen executive team.
Negative
- Departure of CFO may cause temporary instability in financial management.
Details
News Market Reaction – ARBK
The recorded move for ARBK in the trading session of this news was -1.04%.
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Change in Executive Management
LONDON, UK / ACCESSWIRE / February 1, 2023 / Argo Blockchain plc ("Argo" or "the Company"), a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), announces that following the successful completion of the sale of the Helios facility to Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy") on 29 December 2022, Alex Appleton has resigned from his positions as Chief Financial Officer and Executive Director to pursue other opportunities.
Argo has engaged an executive search firm to assist with the process of selecting a replacement Chief Financial Officer. The Company has also engaged BDO Canada LLP to assist the Company's Chief Operating Officer, Seif El-Bakly, CFA, with accounting and advisory services during the search phase.
Mr. Appleton said, "I am very proud of what we have achieved over my time with Argo. The business has great potential, and I wish the Argo team all the best for the future."
Argo Chief Executive Peter Wall said, "On behalf of the Argo team, I thank Alex for his hard work and significant contributions during his two and a half years with the Company."
For further information please contact:
Argo Blockchain | |
Peter Wall Chief Executive | |
finnCap Ltd | |
Corporate Finance Jonny Franklin-Adams Seamus Fricker Joint Corporate Broker Sunila de Silva | +44 207 220 0500 |
Tennyson Securities | |
Joint Corporate Broker Peter Krens | +44 207 186 9030 |
Tancredi Intelligent Communication UK & Europe Media Relations | |
Salamander Davoudi Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed |
About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. For more information, visit www.argoblockchain.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Argo Blockchain PLC
View source version on accesswire.com:
https://www.accesswire.com/737627/Argo-Blockchain-PLC-Announces-Change-in-Executive-Management
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