Satsuma Technology will proceed with selling its Bitcoin assets and delisting from the London Stock Exchange following overwhelming shareholder approval. More than 90% of participating investors voted for the return of capital and ending the company’s public listing on July 20.
Shareholder Vote Ends Bitcoin Treasury Strategy
This decision reverses Satsuma’s strategy implemented less than a year ago. In 2025, Satsuma raised £163.6 million (around $218 million) through a convertible note round involving notable investors including Pantera Capital, Digital Currency Group, and Kraken. The fundraising accepted 1,097 BTC in lieu of cash to build a Bitcoin treasury under a UK-listed digital asset model.
The July vote was initiated by shareholders representing over 20% of the issued share capital. They proposed returning nearly all available capital to investors rather than continuing as a listed Bitcoin treasury business. The company’s board was split: four out of six directors opposed the plan citing the value of the asset, while two favored a capital return as a clearer way to realize value.
Satsuma’s June document estimated the company held 668 BTC and anticipated that after sales, transaction expenses, and retained working capital, shareholders would receive between £27.7 million and £30.9 million depending on Bitcoin’s sale price and warrant exercises.
The company will distribute proceeds using a B Share scheme, with the record date scheduled for 6 p.m. on August 3. Following that, Satsuma must obtain UK High Court approval to finalize the capital return and delisting processes, which are targeted for September 14.
Material is informational and not financial advice.
