Argo Blockchain, a leading cryptocurrency mining company, has undergone significant management changes as it announced the departure of Seif El-Bakly, the former Chief Operating Officer. Effective January 5, 2024, El-Bakly has decided to step down from his position to explore new opportunities. Argo Blockchain expressed its gratitude for El-Bakly’s commendable leadership during his tenure as the Interim CEO from February to November 2023, and wishes him success in his future endeavors.
In light of this transition, the operations team will now report directly to Sebastien Chalus, the Chief Strategy Officer. Chalus has been overseeing the operations team since February 2023 and will continue to lead them in the future. This strategic decision aims to maintain a seamless workflow and ensure the company’s operations remain unaffected by the management change.
As part of El-Bakly’s separation agreement, the previously awarded Performance Share Units (PSUs) were vested on January 5, 2024. To facilitate this process, Argo Blockchain has issued 1,973,892 new ordinary shares of £0.001 each, representing the vested PSU Shares. These new shares will hold equal rank with the existing Ordinary Shares in circulation. The company plans to apply for the admission of these new Ordinary Shares to the Official List and trading on the Main Market of the London Stock Exchange PLC. It is expected that the PSU Admission will take place on January 11, 2024, with the commencement of trading in the new Ordinary Shares.
With this leadership transition, Argo Blockchain demonstrates its commitment to adapt and evolve in an ever-changing industry. The company remains steadfast in its pursuit of innovation and growth, anchored by a strong management team dedicated to achieving its strategic objectives.
The source of the article is from the blog oinegro.com.br