UK-listed Satsuma Technology liquidates 669.5 BTC treasury and returns £30.7M to shareholders following court-approved capital reduction.
Macro & Markets ·
Satsuma Technology, a UK-listed company, has completed the sale of its entire bitcoin holdings totaling 669.4867 BTC, raising £31.9 million. The firm intends to distribute £30.7 million of proceeds to shareholders as part of a capital reduction framework approved by the UK High Court on September 8. Eligible B shareholders will receive £0.002734 per share, with disbursements scheduled through September 28 via check, bank transfer, or CREST settlement.
The capital reduction represents a significant wind-down of Satsuma's bitcoin position and marks a shift in the company's structure. The London listing cancellation was anticipated for mid-September, though final confirmation of that delisting has not yet been reported.
Questions remain over the timing and full mechanics of the shareholder payments, as well as any residual operations or cash holdings beyond the distributed amount.