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Argo Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

1. Argo Blockchain fails to meet Nasdaq's minimum bid price for 30 days. 2. Company has until July 2025 to regain compliance with Nasdaq rules. 3. Currently, Argo's ADSs will continue trading on Nasdaq despite non-compliance. 4. Company monitoring options to restore compliance and avoid delisting.

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FAQ

Why Bearish?

Non-compliance with Nasdaq rules typically leads to negative investor sentiment. Similar cases have resulted in declining stock prices.

How important is it?

Compliance with listing standards is critical to maintain investor confidence and stock price.

Why Short Term?

The immediate concern is compliance by July 2025 but investor sentiment could react sooner.

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Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK), announces today that it has received written notification (the "Notification Letter") from the Nasdaq Stock Market LLC Listing Qualifications Department ("Nasdaq") that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Rule 5450(a)(1) since the closing bid price for the Company's American Depositary Shares ("ADS") listed on the Nasdaq Global Select Market was below $1.00 for 30 consecutive business days.In accordance with Listing Rule 5810(c)(3)(A), the Company has until 15 July 2025, to regain compliance with the minimum bid price requirement, during which time the ADSs are expected to continue to trade on the Nasdaq Global Select Market. If at any time before 15 July 2025, the bid price of the ADSs closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement and will consider such deficiency matters closed.The Notification Letter does not affect the Company's business operations, and it does not affect the Company's listing on the London Stock Exchange.The Company intends to monitor the bid price of its ADSs between now and 15 July 2025, and to evaluate all available options to resolve the deficiency and regain compliance with Nasdaq Rule 5450(a)(1).This announcement contains inside information.For further information please contact:Argo BlockchainInvestor Relations[email protected]Tennyson SecuritiesCorporate Broker Peter Krens+44 207 186 9030Fortified SecuritiesJoint Broker Guy Wheatley, CFA+44 7493 989014 [email protected]Tancredi Intelligent Communication UK & Europe Media Relations[email protected]About Argo:Argo Blockchain plc is a dual-listed (LSE:ARB)(NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec 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. 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 [email protected] or visit www.rns.com.SOURCE: Argo Blockchain PLC

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