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 April, 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
☒
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): ☐
EXHIBIT INDEX
|
Exhibit
No.
1
|
Description
Financial
Update and Listing Suspension Request dated 30 April
2025
|
Press Release
30 April 2025
Argo Blockchain plc
("Argo" or "the Company")
SEC Comment Letter Cleared
Publication Delay of Annual Financial Report to on or around 9 May
2025
2024 Preliminary Unaudited Financial Highlights
Argo Blockchain plc announces that there will be a delay to the
publication of its annual financial report for the year ended 31
December 2024 (2024 Financial
Statements).
In accordance with the UK Listing Rules and the Disclosure Guidance
and Transparency Rules, the Company is required to publish the 2024
Financial Statements by 30 April 2025. The Company's auditor, PKF
Littlejohn LLP, has advised the Company that, while the audit
process is near completion, it will not be finalised by the
deadline.
The delay is due to management time and auditor resources being
directed toward the restatement of the Company's annual report on
Form 20-F for the year ended 31 December 2023 (2023
20-F).
The restatement was filed in response to a comment letter
received from the Securities
and Exchange Commission (SEC)
in connection with the SEC's review of the 2023 20-F to clarify the
accounting treatment of the Company's digital assets. The
restatement had to be completed prior to the finalisation of the
2024 Financial Statements.The Company filed its restated accounts
with the SEC on 22 April 2025 and the SEC completed their review on
25 April 2025. The result of the restatement of the 2023 20-F
was a decrease to the net loss in 2023 and 2022 and a decrease to
net income in 2021. There was a reclassification of cash flows
between operating activities and investing activities. There was no
change to revenue or cash in any of the periods
reported.
As a result of this delay, the Company has, in accordance with the
UK Listing Rules, requested a temporary suspension of the listing
of its ordinary shares from the Official List of the FCA and from
trading on the Main Market of the London Stock Exchange with effect
from 7:30 a.m. on 1 May 2025, pending publication of the 2024
Financial Statements.
The Company is working diligently with its auditors, PKF Littlejohn
LLP, to complete the audit of the 2024 Financial Statements and
expects to publish them on or around 9 May
2025. The Company will request a restoration of the listing of
and trading in its ordinary shares following the publication of the
2024 Financial Statements.
In the meantime, the Company is providing the following unaudited
preliminary financial highlights for the year ended 31 December
2024 with 31 December 2023 comparative:
|
|
2024
|
2023
|
|
|
($millions)
|
($millions)
|
|
|
(unaudited)
|
|
|
Total revenue:
|
$47.0
|
$50.6
|
|
Net loss:
|
($54.4)
|
($34.6)
|
|
Adjusted EBITDA
|
$5.6
|
$7.7
|
|
Cash balance at 31 December 2024:
|
$8.6
|
$7.4
|
These preliminary results are unaudited and subject to change based
on the completion of the full year-end audit
process.
This announcement contains inside information.
For further information please contact:
|
Argo Blockchain
|
|
|
Investor Relations
|
|
|
Tennyson Securities
|
|
|
Corporate
Broker
Peter Krens
|
+44 207 186 9030
|
|
Fortified Securities
|
|
|
Joint
Broker
Guy Wheatley, CFA
|
+44 7493 989014
|
|
Tancredi Intelligent Communication
UK
& Europe Media Relations
|
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.
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 restated Form 20-F for
the year ended 31 December 2023, and our Interim Report as of 30
September 2024.
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 authorized.
|
Date:
30 April, 2025
|
ARGO BLOCKCHAIN PLC
By:
/s/ Jim
MacCallum
Name:
Jim MacCallum
Title:
Chief Financial Officer
|