Argo Blockchain plc (LON:ARB; NASDAQ:ARBK) has announced that today the High Court of Justice, Business and Property Courts of England and Wales agreed to sanction the company’s restructuring plan under Part 26A of the Companies Act 2006.

The last day of trading of Argo’s shares on the Main Market of the London Stock Exchange will now be 11 December 2025 and delisting will be effective from 7 a.m. on 12 December 2025.

On or before 12 December 2025, Argo will issue and allot 2,885,767,520 new ordinary shares of £0.0001 each to a nominee of JPMorgan Chase Bank, N.A., against which the Depositary will issue American Depositary Receipts (ADRs) evidencing American Depositary Shares (ADSs) for allocation among Argo’s bondholders upon the redemption and mandatory exchange of the company’s 8.75% senior notes due 2026 in accordance with the Restructuring Plan.

On or before 12 December 2025, the Company will issue and allot 25,250,465,800 new Shares to the Depositary’s nominee, against which the Depositary will issue restricted ADRs evidencing ADSs to Growler Mining Tuscaloosa, LLC, in consideration of Growler’s contributions and the release of Growler’s security over Argo and its subsidiaries,

On 12 December 2025, the ratio of Shares to ADSs will change from 10:1 to 2,160:1, so that one ADS will represent 2,160 Shares.

Ralfe Hickman, a representative of Growler, has been appointed as a director of the Company with effect from 12 December 2025.

Justin Nolan, CEO of Argo, said:

“The sanctioning of the Restructuring Plan results in a recapitalised balance sheet positioned for growth. The board is grateful to Growler, and in particular, Stan Pate and his team, for supporting the Company over the last few months. While the board is saddened to leave the London market, the Company emerges with a recapitalised balance sheet, new power infrastructure and mining equipment from Growler as well as its Nasdaq listing.”

Stan Pate, the manager of Growler, said:

“I’m pleased to announce the sanctioning of the Restructuring Plan which allows us to provide additional resources to support robust mining operations and create a leading energy infrastructure operator with a strong financial position.”