UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2025
Commission File Number: 001-40816
Argo Blockchain plc
(Translation of registrant’s name into
English)
Eastcastle House
27/28 Eastcastle Street
London W1W 8DH
England
(Address of principal executive office)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Publication of Practice Statement Letter, Intention to Delist
from London Stock Exchange and Update to Restructuring Plan
London, United Kingdom – 21 October
2025 – Argo Blockchain plc (“Argo” or the “Company”), a dual-listed blockchain technology company (LSE:
ARB; NASDAQ: ARBK), announces that it has published a Practice Statement Letter in connection with its proposed recapitalisation and restructuring
plan under Part 26A of the UK Companies Act 2006 (the “Restructuring Plan”) and effected in reliance on the exemption from
the U.S. Securities Act of 1933 provided by Section 3(a)(10) thereof.
The Practice Statement Letter is available on the plan website maintained by Kroll Issuer Services Limited at https://deals.is.kroll.com/argo
and sets out key details explaining how the rights and entitlements of shareholders and creditors may be affected.
Indicative key dates for the Restructuring Plan are as follows:
Convening Hearing – 5 November 2025
Meetings of Plan Participants – 28 November 2025
Sanction Hearing – 8 December 2025
Subject to Court sanction of the Restructuring Plan, Argo intends to cancel the listing of its ordinary shares on the Main Market of the
London Stock Exchange and the Official List of the UK Financial Conduct Authority (the “Delisting”), while maintaining its
NASDAQ listing. Conditional upon sanction, the Delisting is expected to take effect from 8:00 a.m. (London time) on 9 December 2025, with
the final day of dealings anticipated to be 8 December 2025.
The principal effects of the Delisting are summarised in the Company’s Regulatory News Service announcement d announcement
dated 21 October 2025, which is incorporated herein by reference.
Shareholders and creditors are encouraged to review the plan website and consult their advisers as necessary.
Copies of the Practice Statement Letter and Letter to Plan Participants
are furnished as Exhibits 99.1 and 99.2 to this Form 6-K, respectively.
Additionally, the Company
would like to provide the following updates with respect to the Restructuring Plan and its agreements with Growler Mining, LLC n/k/a Growler
Mining Tuscaloosa, LLC (“Growler”):
| • | The
Company has determined the allocation of equity in the recapitalised Company pursuant to the Restructuring Plan as follows: (i) Growler
will hold 87.5% of the equity; (2) the bondholders, in exchange for their debt, will receive an aggregate 10% of the equity; and (iii)
the existing equity holders will retain their equity interests, subject to substantial dilution from the issuances to the bondholders
and Growler, resulting in an aggregate 2.5% equity interest. |
| • | To
date, the Company drawn approximately US$5.38 million from its secured multi-draw term loan facility of up to US$7.5 million with Growler. |
There can be no assurance that the
High Court of England and Wales will sanction the Restructuring Plan described in the Practice Statement Letter. If the Restructuring
Plan is not sanctioned on or shortly after 8 December 2025, the Company, based on its current financial position and projections, would
likely be unable to pay its debts as they fall due and would need to enter into a formal insolvency process.
About Argo Blockchain plc
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain
technology company focused on large-scale cryptocurrency mining. With operations in Quebec and offices in the U.K., U.S., and Canada,
Argo’s sustainable mining activities are predominantly powered by renewable energy. For more information, please visit www.argoblockchain.com.
Forward-Looking Statements
This report contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially. Please refer to Argo’s most recent Form 20-F and other SEC filings for
further information on these risks and uncertainties. Argo undertakes no obligation to update any forward-looking statements except as
required by law.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
Date: October 21, 2025
| Argo
Blockchain plc |
|
| |
|
| By:
|
/s/
Justin Nolan |
|
| Name:
|
Justin
Nolan |
|
| Title: |
Chief
Executive Officer |
|
EXHIBIT INDEX
Exhibit 99.1 – Practice Statement Letter
Exhibit 99.2 – Letter to Plan Participants
