Cryptocurrency mining company Argo Blockchain announced management changes today.
Effective January 5, 2024, Seif El-Bakly resigned as Chief Operating Officer to pursue other opportunities. The Company thanked Mr. El-Bakly for leading Argo as Interim CEO from February to November 2023 and wished him every success.
The business team reports to Chief Strategy Officer Sebastien Chalus from February 2023 and Mr. Chalus will continue to oversee all businesses going forward.
As part of Mr El-Bakly’s separation agreement, the Performance Units (PSUs) previously awarded vested from 5 January 2024. To effect this vesting, the Company has issued 1,973,892 new ordinary shares of £0.001 each in the capital of the Company.
The new PSU shares will be ranked at par with the existing common shares in issue and an application will be made for the new common shares to be listed on the Official List and traded on the Main Market of the London Stock Exchange PLC. The PSU Listing is expected to take place and trading in the new Common Shares will begin on January 11, 2024.