Argo Blockchain set to delist from London Stock Exchange
By Josh White
Date: Tuesday 21 Oct 2025
(Sharecast News) - Argo Blockchain said in an update on Tuesday that it intends to delist its shares from the London Stock Exchange as it progresses with a court-sanctioned restructuring plan aimed at recapitalising the business.
The cryptocurrency miner said it had published a practice statement letter, the first step in the restructuring plan process under Part 26A of the Companies Act 2006.
It said the letter outlined how the rights and entitlements of shareholders and creditors could be affected, and had been made available on the company's plan website.
Key dates for the process included a convening hearing on 5 November, meetings of plan participants on 28 November, and a sanction hearing on 8 December.
The company said the restructuring would be structured to rely on a US Securities Act exemption for securities expected to be issued as part of the plan.
Subject to court approval of the restructuring plan, Argo said it intended to cancel the listing of its ordinary shares on the FCA's Official List and end trading on the Main Market in London, while maintaining its Nasdaq listing.
The delisting was expected to take effect at 0800 GMT on 9 December, with the last day of dealings in the shares anticipated on 8 December.
Following the delisting, Argo said its shares would no longer be tradeable on the London Stock Exchange, with the company no longer be subject to the UK Listing Rules, the Disclosure Guidance and Transparency Rules, or the Market Abuse Regulation.
The UK Takeover Code would continue to apply for two years after the delisting, after which it would cease to apply.
Argo advised shareholders to review their holdings and seek professional advice on any potential tax implications or impact on their investment.
In an update on its restructuring, the company said it had agreed the allocation of equity in the recapitalised entity, under which Growler Mining Tuscaloosa would hold 87.5%, bondholders will receive 10% in exchange for their debt, and existing shareholders will retain 2.5% of the equity, subject to substantial dilution.
Argo added that it had so far drawn about $5.38m from its $7.5m secured multi-draw term loan facility with Growler.
Reporting by Josh White for Sharecast.com.
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