Crypto mining agency Argo Blockchain has requested the resumption of buying and selling for its ARB shares on the London Inventory Alternate (LSE) after the UK Monetary Conduct Authority suspended it.
Stories emerged on Dec. 10 that Argo Blockchain was seeking to file for chapter as it’s dealing with a extreme liquidity crunch. Consequently, its ARB shares had been suspended for buying and selling on the London Inventory Alternate and Nasdaq.
Nevertheless, on Dec. 12, Argo requested that the UK Monetary Conduct Authority restores the buying and selling of its extraordinary shares on the London Inventory Alternate.
Argo mentioned that though it had not filed for chapter but, it’s prone to not having ample money to help its enterprise operations over the following month.
It’s seeking to elevate liquidity by promoting a few of its belongings and mining tools.
Argo added that it’s working to keep away from submitting for a Chapter 11 chapter; nonetheless, “there isn’t any assurance that it’ll keep away from such submitting.”
In any case, Argo has engaged McDermott Will & Emery LLP as authorized advisers and Berkeley Analysis to investigate its choices in view of resolving its liquidity disaster.
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