UK firm Satsuma Technology completes full Bitcoin sale to fund shareholder payout

Satsuma Technology, a UK‑listed company, has sold its entire Bitcoin reserve and secured High Court approval to return cash to shareholders.

Court approval and share‑capital reduction

The High Court of Justice authorized the cancellation of 11,235,874,700 B shares, enabling a capital‑return of £30,718,881. The return is set at £0.002734 per B share.

Bitcoin sale details

Between July 24 and July 31, Satsuma sold 669.4867 BTC at a net volume‑weighted average price of £47,667 per BTC, generating £31,912,395.

Cash position and costs

At the record date the company reported £35,324,953 in cash, including subsidiary holdings. After accounting for estimated transaction and termination costs of £2.6 million and retaining £2 million as working capital, the cash available for distribution was calculated.

Shareholder payout timeline

Eligible shareholders are to receive checks, bank‑account transfers, or CREST credits on or before September 28. The court ruling on September 8 removed the final approval condition, confirming the amount due to B‑share holders.

Next steps

The distribution of cash and the cancellation of the company’s London listing remain the upcoming milestones.