Satsuma Technology PLC (LSE:SATS), a United Kingdom company listed on the London Stock Exchange, has completed the sale of its entire Bitcoin treasury and secured court clearance to send the resulting cash back to investors.
The firm disposed of 669.4867 Bitcoin in late July and will now distribute roughly £30.7 million after the High Court of Justice approved a reduction of capital on 8 September 2026.
The process began after a group of shareholders holding more than 20 percent of the equity asked the board to put a winding-down proposal to a vote.
At a general meeting in July, more than 90 percent of votes cast supported two linked resolutions: sell the remaining Bitcoin holdings and cancel the company’s listing.
Four of the six directors had recommended against the plan, arguing that Satsuma should remain a publicly traded Bitcoin treasury vehicle.
Two directors dissented and backed the return of capital. Shareholders overruled the majority.
Once the resolutions passed, management prepared to liquidate the treasury.
Between 24 and 31 July the company sold all 669.4867 Bitcoin at a net volume-weighted average price of £47,667 per coin, generating proceeds of £31,912,395.
Combined with other cash on the balance sheet, the group reported more than £35 million available at the relevant record date.
The return of capital is being effected through a B-share scheme.
Eligible ordinary shareholders received one non-voting B share for each ordinary share they held.
On 8 September the High Court approved the cancellation of 11,235,874,700 of those B shares.
That cancellation authorises a cash payment of £0.002734 per B share, or £30,718,881.43 in total.
The figure already accounts for an estimated £2.6 million of transaction and termination costs and leaves £2 million inside the company as working capital.Payments are expected on or before 28 September 2026.
Investors will receive sterling by default, either by cheque posted to the address on the register, by credit to a bank account already on file, or via CREST.
An optional international funds-transfer facility allows shareholders to receive the proceeds in their local currency if they register bank details with the registrar by 10 September.
After the distribution the company’s issued share capital will consist of 11,235,874,700 ordinary shares of £0.001 each, each carrying one vote.
The episode closes a brief chapter for Satsuma as a Bitcoin treasury company.
The firm had raised substantial capital in 2025 to accumulate Bitcoin, later selling a large portion of the holding to meet obligations to convertible-note holders. The remaining coins were then sold at a significant discount to earlier purchase prices. With the court order now in place, the cash return and planned delisting can proceed.