<SEC-DOCUMENT>0001654954-23-009329.txt : 20230718
<SEC-HEADER>0001654954-23-009329.hdr.sgml : 20230718
<ACCEPTANCE-DATETIME>20230718151543
ACCESSION NUMBER:		0001654954-23-009329
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230718
FILED AS OF DATE:		20230718
DATE AS OF CHANGE:		20230718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Argo Blockchain Plc
		CENTRAL INDEX KEY:			0001841675
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40816
		FILM NUMBER:		231094107

	BUSINESS ADDRESS:	
		STREET 1:		16 GREAT QUEEN STREET
		STREET 2:		9TH FLOOR
		CITY:			LONDON
		STATE:			X0
		ZIP:			SW1Y 6LX
		BUSINESS PHONE:		(604) 657-0554

	MAIL ADDRESS:	
		STREET 1:		16 GREAT QUEEN STREET
		STREET 2:		9TH FLOOR
		CITY:			LONDON
		STATE:			X0
		ZIP:			SW1Y 6LX
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a4317g.htm
<DESCRIPTION>PRIMARYBID OFFER
<TEXT>
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UNITED STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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Washington, D.C. 20549</font></div>
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_____________________</font></div>
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FORM 6-K</font></div>
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_____________________</font></div>
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REPORT OF FOREIGN PRIVATE ISSUER</font></div>
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PURSUANT TO RULE 13a-16 OR 15d-16</font></div>
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UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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For the month of July, 2023</font></div>
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Commission File Number: 001-40816</font></div>
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_____________________</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 24px">
Argo Blockchain plc</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
(Translation of registrant&#x2019;s name into English)</font></div>
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_____________________</font></div>
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Eastcastle House</font></div>
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27/28 Eastcastle Street</font></div>
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London W1W 8DH</font></div>
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England</font></div>
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(Address of principal executive office)</font></div>
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_____________________</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">
Form 20-F <font>&#x2612;</font></font>&#xA0;&#xA0; &#xA0;
&#xA0; &#xA0; &#xA0; &#xA0;&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Form 40-F
<font>&#x2610;</font></font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">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): <font>&#x2610;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">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): <font>&#x2610;</font></font></div>
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EXHIBIT INDEX</font></div>
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<font style="text-decoration: underline">Exhibit
No.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">1</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="text-decoration: underline">Description</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">PrimaryBid
Offer dated 18 July 2023</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE,
PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION
WOULD BE UNLAWFUL.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS
NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES
OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
18 July 2023</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
ARGO BLOCKCHAIN PLC</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
("Argo" or "the Company")</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
PrimaryBid Offer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">Argo announces a conditional
offer for subscription of new Ordinary Shares
via</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">PrimaryBid</font><font style="color: #000000; font-size: 13px">;</font></font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">The Issue Price for
the</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">new Ordinary Shares is 10 pence
per new Ordinary Share representing a discount of approximately 14
per cent. to the 30 trading day VWAP of the Company's existing
Ordinary Shares for the period ended on 18 July 2023, and a
discount of 25.92 per cent to the closing mid-price of the
Company's Ordinary Shares on 18 July 2023;</font></font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">The
PrimaryBid Offer is available to both existing shareholders and new
investors;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">Investors can access the
PrimaryBid Offer through</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">PrimaryBid's
website</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">and
on</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">PrimaryBid's
app</font><font style="color: #000000; font-size: 13px">;</font></font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Investors&#xA0;can
also participate through PrimaryBid's extensive network of retail
brokers, wealth managers and investment platforms (subject to such
partners' participation), which includes AJ Bell, Hargreaves
Lansdown and interactive investor;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">Applications
for</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">new Ordinary Shares through
participating partners can be made from tax efficient savings
vehicles such as ISAs or SIPPs, as well as General Investment
Accounts (GIAs). Some partners may only accept applications from
existing shareholders;</font></font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">There
is a minimum subscription of &#xA3;250 per investor in the
PrimaryBid Offer;</font></div>
</div>
</div>
<div style="margin-left: 24px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">No
commission will be charged to investors by PrimaryBid on
applications to the PrimaryBid Offer.</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
PrimaryBid Offer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
Argo Blockchain PLC, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK),</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">is pleased to announce,&#xA0;a
conditional offer for subscription</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">of new ordinary shares of
&#xA3;0.001 each in the capital of the Company (</font><font style="font-weight: bold; color: #000000; font-size: 13px">Ordinary
Shares</font><font style="color: #000000; font-size: 13px">)&#xA0;via PrimaryBid at an issue
price of 10 pence per new Ordinary Share
(the&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 13px">Issue
Price</font><font style="color: #000000; font-size: 13px">), being
a discount of approximately 14 per cent. to the 30 trading day VWAP
of the Company's existing Ordinary Shares for the period ended on
18 July 2023, and a discount of 25.92 per cent to the closing
mid-price of the Company's Ordinary Shares on 18 July 2023
(the&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 13px">PrimaryBid</font><font style="color: #000000; font-size: 13px">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 13px">Offer</font><font style="color: #000000; font-size: 13px">).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The Company is also conducting a placing of new Ordinary Shares at
the Issue Price by way of an accelerated bookbuilding process
(the&#xA0;</font><font style="font-weight: bold; color: #000000">Placing</font><font style="color: #000000">) as announced earlier today.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The PrimaryBid Offer is conditional on the new Ordinary Shares to
be issued pursuant to the PrimaryBid Offer and the Placing being
admitted to the standard listing segment of the Official List of
the Financial Conduct Authority and admitted to trading on the main
market for listed securities of London Stock Exchange plc
(</font><font style="font-weight: bold; color: #000000">Admission</font><font style="color: #000000">).&#xA0;Admission is expected to take place on or
before 8.00 a.m. on</font></font> <font style="color: #000000; font-family: Times New Roman; font-size: 13px">24
July 2023.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The PrimaryBid Offer will not be completed without the Placing also
being completed, but the Placing is not conditional on the
PrimaryBid Offer.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The proceeds of the proposed Placing and PrimaryBid Offer
(</font><font style="font-weight: bold; color: #000000">Capital
Raise</font><font style="color: #000000">) will be used to reduce
the Company's outstanding indebtedness and to pursue strategic
growth projects.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company currently has approximately &#xA3;59.1 million of debt
outstanding, including approximately &#xA3;25.0 million owed to
Galaxy Digital under an asset-backed loan and approximately
&#xA3;31.4 million of senior unsecured notes. The Company believes
that using a portion of the proceeds to reduce its indebtedness
will be accretive to shareholders by reducing interest expense and
strengthening the balance sheet.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company is evaluating a number of novel opportunities with
power generators to help capture the full economic value of their
stranded or underutilized energy. A portion of the proceeds from
the Capital Raise will be used to pursue growth projects of this
nature, which the Company believes will create long term
shareholder value.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company operates two mining facilities located in Quebec and
Texas and has offices in the US, Canada and the UK. The Company
aims to provide efficient and cost-effective mining operations by
utilising renewable energy sources.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Reason for the PrimaryBid Offer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
While the Placing has been structured as a non-pre-emptive offer
within the Company's existing authorities from shareholders for
non-pre-emptive offers so as to minimise cost, complexity and time
to completion, the Company has a significant and valued retail
investor base and is therefore pleased to provide retail investors
with the opportunity to participate in the PrimaryBid Offer, so as
to enable access to Placing Shares at the same time and price as
institutional investors.&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
Existing shareholders and new investors can access the PrimaryBid
Offer through</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">PrimaryBid's
website</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">and
on</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">PrimaryBid's
app</font><font style="color: #000000; font-size: 13px">.&#xA0;The
PrimaryBid app is available on the UK Apple App Store and Google
Play Store.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Investors&#xA0;can also participate through PrimaryBid's extensive
partner network of investment platforms, retail brokers and wealth
managers, subject to such partners' participation. Participating
partners include:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">AJ
Bell;</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Hargreaves
Lansdown; and</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 24px">
<font style="color: #000000; font-size: 16px">&#x25CF;</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">interactive
investor.</font></div>
</div>
</div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
Applications for</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">new Ordinary Shares through
participating partners can be made from tax efficient savings
vehicles such as ISAs or SIPPs, as well as GIAs. Some partners may
only accept applications from existing
shareholders.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
After consideration of the various options available to it, the
Company believes that the separate PrimaryBid Offer is in the best
interests of shareholders, as well as wider stakeholders in the
Company.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The PrimaryBid Offer will open to investors resident and physically
located in the United Kingdom following the release of this
Announcement. The PrimaryBid Offer is expected to close at 8.00
p.m. on 18 July 2023 and may close early if it is
oversubscribed.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
There is a minimum subscription amount of &#xA3;250 per
investor</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">in the PrimaryBid
Offer.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Company reserves the right to scale back any order at its
discretion. The Company and PrimaryBid reserve the right to reject
any application for subscription under the PrimaryBid Offer without
giving any reason for such rejection.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
Investors who apply for</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">new Ordinary&#xA0;Shares through
PrimaryBid's website or PrimaryBid's app will not be charged any
fee or commission by PrimaryBid. It is vital to note that once an
application for new Ordinary Shares has been made and accepted via
PrimaryBid, an application cannot be withdrawn.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
Investors wishing to apply for</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">new Ordinary&#xA0;Shares through
their investment platform, retail broker or wealth manager using
their ISA, SIPP or GIA should contact them for details of the
process, their terms and conditions and any relevant fees or
charges.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
The new Ordinary Shares to be issued pursuant to the
PrimaryBid</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">Offer&#xA0;will be issued free of
all liens, charges and encumbrances and will, when issued and fully
paid, rank&#xA0;</font><font style="font-style: italic; color: #000000; font-size: 13px">pari
passu</font><font style="color: #000000; font-size: 13px">&#xA0;in
all respects with the&#xA0;new Ordinary Shares to be issued
pursuant to the Placing and the Company's existing Ordinary
Shares.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
For further information on PrimaryBid, the PrimaryBid Offer or for
a copy of the terms and conditions (including the procedure for
application and payment for</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">new&#xA0;Ordinary Shares) that
apply to registered users of PrimaryBid in addition to the terms
and conditions set out in this Announcement,
visit&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">www.PrimaryBid.com</font><font style="color: #000000">&#xA0;</font><font style="color: #000000; font-size: 13px">or
email PrimaryBid at</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">enquiries@primarybid.com</font><font style="color: #000000; font-size: 13px">.&#xA0;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="color: #000000; font-size: 13px">
Brokers wishing to offer their customers access to the PrimaryBid
Offer and future PrimaryBid transactions, should
contact</font><font style="color: #000000">&#xA0;</font><font style="text-decoration: underline; color: #0000FF; font-size: 13px">partners@primarybid.com</font><font style="color: #000000; font-size: 13px">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Important notices</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The PrimaryBid Offer is offered under the exemptions from the need
for a prospectus allowed under the FCA's&#xA0;Prospectus Regulation
Rules. As such, there is no need for publication of
a&#xA0;prospectus pursuant to the Prospectus Regulation Rules, or
for approval of the same by the Financial Conduct Authority (as
competent authority under Regulation (EU) 2017/1129 as it forms
part of retained EU law as defined in the European Union
(Withdrawal) Act 2018).&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The PrimaryBid Offer is not being made into the United States,
Australia, Canada, the Republic of South Africa, Japan or any other
jurisdiction where it would be unlawful to do so.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
This Announcement is not for publication or distribution, directly
or indirectly, in or into the United States of America. This
Announcement is not an offer of securities for sale into the United
States. The securities referred to herein have not been and will
not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No
public offering of securities is being made in the United
States.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
This Announcement and the information contained herein, is
restricted and is not for publication, release or distribution,
directly or indirectly, in whole or in part, in or into Australia,
Canada, the Republic of South Africa, Japan or any other
jurisdiction in which such publication, release or distribution
would be unlawful.&#xA0; Further, this Announcement is for
information purposes only and is not an offer of securities in any
jurisdiction.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Investors should make their own investigations into the merits of
an investment in the Company. Nothing in this Announcement amounts
to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 16px"><font style="font-weight: bold; color: #000000; font-size: 13px">
It should be noted that a subscription for new Ordinary Shares and
investment in the Company carries a number of risks. Investors
should consider the risk factors set out in the Company's 2022
Annual Report, on</font><font style="color: #000000">&#xA0;</font><font style="font-weight: bold; text-decoration: underline; color: #0000FF; font-size: 13px">www.PrimaryBid.com</font><font style="color: #000000">&#xA0;</font><font style="font-weight: bold; color: #000000; font-size: 13px">and
the PrimaryBid app before making a decision to subscribe for new
Ordinary Shares. Investors should take independent advice from a
person experienced in advising on investment in securities such as
the new Ordinary Shares if they are in any
doubt.&#xA0;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
For further information please contact:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Argo Blockchain</font></div>
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Investor Relations</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
ir@argoblockchain.com</font></div>
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Tennyson Securities</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Joint
Corporate Broker</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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Peter Krens</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
+44 207 186 9030</font></div>
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Tancredi Intelligent Communication</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">UK
&amp; Europe Media Relations</font></div>
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Salamander Davoudi</font></div>
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Emma Valgimigli</font></div>
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Fabio Galloni-Roversi Monaco</font></div>
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Nasser Al-Sayed</font></div>
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&#xA0;argoblock@tancredigroup.com</font></div>
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About Argo:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
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. For more information,
visit&#xA0;</font><font style="text-decoration: underline; color: #0000FF">www.argoblockchain.com</font><font style="color: #000000">.</font></font></div>
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<br></font></div>
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SIGNATURES</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">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.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date:
18 July, 2023</font></div>
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ARGO BLOCKCHAIN PLC</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="font-style: italic">/s/ Jim
MacCallum</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Name:
Jim MacCallum</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Financial Officer</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="font-style: italic">/s/ Davis
Zapffe</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Name:
Davis Zapffe</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Title:
General Counsel</font></div>
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