The independent directors of Argo Blockchain PLC (LON:ARB) have urged investors to vote against resolutions to oust the crypto miner’s two founders - Jonathan Bixby and Mike Edwards.
A meeting to decide the pair’s fate has been requisitioned for May 16 at the behest of a company ultimately owned by entrepreneur, Frank Timis.
READ: Argo Blockchain re-affirms break-even target
Lynchwood Nominees has built up a 5% stake in Argo on behalf of First Investments Holdings, a Timis vehicle.
Argo currently has around £15mln in the bank – about £5mln more than its current market capitalisation.