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Argo marches on towards USA as majority of resolutions passed

Argo Blockchain marched on with its plans to expand into the USA and support its Nasdaq listing plans by announcing that five out of six resolutions were passed.

Out of the six resolutions put forward in pursuit of growth in the USA, five were passed with at least three quarters of the successful vote for each resolution.

The five out of six resolutions that were passed included; remuneration policy, equity awards for non-executives, authority to allot shares, waiver of pre-emption rights and adoption of new articles of association.

The only resolution which didn’t pass and by quite some majority was that related to an equity incentive plan which saw just under 67 percent of the votes against.

What does this mean for Argo Blockchain?

It really means that Argo can continue to pursue growth in the US as previously reported on – Argo Blockchain requests shareholders to support 5 areas in pursuit of US growth.

All of these resolutions were a relative formality in respect to its US listing and securing the talent it needs in a competitive US market.

News that the proposals for the new equity incentive plan may come as a blow – however one would still imagine it will be able to attract and retain talent as the other and somewhat similar resolutions were passed.

The Argo Blockchain share price is currently trading at 147p.

Shares in Argo have bounced back from as low as 87p during July.

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