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The latest update is out from Argo Blockchain ( (GB:ARB) ).
Argo Blockchain plc has received approval from the High Court of Justice in London to convene meetings with creditors and members regarding its proposed restructuring plan. The plan aims to stabilize the company’s financial position through a comprehensive recapitalization, addressing secured and unsecured liabilities, and positioning Argo for sustainable growth. Key elements include converting secured debt into equity, exchanging senior notes for shares, and delisting from the London Stock Exchange while maintaining its Nasdaq listing. The restructuring is critical due to Argo’s constrained liquidity and ongoing tax reassessments in Canada, with the plan expected to prevent insolvency and ensure fair allocation of resources among stakeholders.
More about Argo Blockchain
Argo Blockchain plc is a dual-listed company, primarily operating in the blockchain and cryptocurrency mining industry. The company focuses on providing large-scale cryptocurrency mining services, leveraging its infrastructure to mine digital currencies efficiently.
Average Trading Volume: 4,423,429
Technical Sentiment Signal: Sell
Current Market Cap: £15.78M
Learn more about ARB stock on TipRanks’ Stock Analysis page.