Argo Blockchain plc (LON: ARB) has received High Court approval to convene creditor and shareholder meetings on 2 December 2025 to vote on its proposed Part 26A restructuring plan, with a sanction hearing scheduled for 8 December.
Under the plan, Growler Mining’s secured debt would be converted into 87.5% of Argo’s equity, while holders of 8.75% Senior Notes due 2026 (ARBKL) would exchange their debt for 10% of the enlarged share capital. Existing shareholders would see their holdings diluted to 2.5%.
The timetable for these meetings is as follows:
|
Time and date of the Plan Members’ Meeting |
2.00 p.m. on 2 December 2025 |
|
Time and date of the shareholders’ General Meeting |
2.30 p.m. on 2 December 2025 |
|
Times and date of the Plan Creditors’ Meetings |
3.00 p.m. and 4.00 p.m. on 2 December 2025 |
The proposal also includes delisting Argo’s shares from the London Stock Exchange, while maintaining its Nasdaq listing, with a revised ADR ratio of 1:2,160.
According to Kroll’s valuation, Argo’s business is estimated to be worth US$30.5–35.3 million as a going concern, compared to just US$8 million under an insolvency scenario.
Argo said the restructuring aims to stabilise the company’s balance sheet, reduce leverage, and position the business for long-term sustainability following a period of financial strain in the crypto mining sector.
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.
