Argo Corporation Completes Distribution of Series A Preferred Shares as Part of Special Stock Dividend and Conversion of Secured Convertible Debentures by Holders

Completion of Stock Dividend: Argo Corporation has successfully distributed its Series A Preferred Shares to common shareholders as part of a special stock dividend, with trading on an "ex-distribution" basis set to begin on August 21, 2025.

Debenture Conversion: The company announced the conversion of all outstanding 12.0% secured convertible debentures into units, resulting in the issuance of approximately 58.9 million units consisting of common shares and warrants.

Ownership Changes: Following the conversion, significant shareholders Praveen Arichandran and Qamar Qureshi have increased their stakes in Argo, with Arichandran holding about 19.69% and Qureshi holding around 11.54% of the issued common shares on a partially-diluted basis.

Company Overview: Argo Corporation is recognized for its innovative city transit solutions, aiming to enhance public transportation through a vertically integrated system that adapts to urban mobility needs.