{"id":50481,"date":"2026-07-22T12:40:55","date_gmt":"2026-07-22T12:40:55","guid":{"rendered":"https:\/\/cryptd.in\/satsuma-shareholders-approve-bitcoin-liquidation-london-delisting\/"},"modified":"2026-07-22T12:40:55","modified_gmt":"2026-07-22T12:40:55","slug":"satsuma-shareholders-approve-bitcoin-liquidation-london-delisting","status":"publish","type":"post","link":"https:\/\/cryptd.in\/ro\/satsuma-shareholders-approve-bitcoin-liquidation-london-delisting\/","title":{"rendered":"Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting"},"content":{"rendered":"

Bitcoin Magazine<\/a>
\n
\nSatsuma Shareholders Approve Bitcoin Liquidation, London Delisting<\/a><\/p>\n

<\/div>\n

Satsuma shareholders have voted<\/a> to unwind the company\u2019s bitcoin treasury and pull its shares off the London Stock Exchange.<\/p>\n

At a general meeting on July 20, holders passed two special resolutions: one to return substantially all of Satsuma\u2019s capital to shareholders, the other to cancel the company\u2019s listing on the FCA\u2019s Official List.\u00a0<\/p>\n

The capital return resolution carried 90.63% support, with 7,869,182,042 votes in favor against 813,703,719 opposed. The delisting resolution passed with near-identical margins, 90.59% in favor.<\/p>\n

The board will now close out Satsuma\u2019s trading operations and sell the company\u2019s remaining bitcoin, roughly 668 BTC.\u00a0<\/p>\n

The stock had traded as Satsuma Technology PLC (LSE: SATS)<\/a>, one of the UK\u2019s bitcoin treasury vehicles, second in size only to The Smarter Web Company.<\/p>\n

A timetable set out in the June 24 shareholder circular governs the wind-down. The record time for entitlement to B Shares falls at 6 p.m. on August 3, the deadline for warrant holders to exercise their warrants if they want the resulting ordinary shares included in the capital return.\u00a0<\/p>\n

Once the total number of qualifying shares is fixed, Satsuma will petition the UK High Court to confirm the return of capital. A directions hearing is set for August 13, with a confirmation hearing to follow on September 8.\u00a0<\/p>\n

Under that schedule, the listing cancellation lands on September 14, and payments and CREST transfers go out by September 28.<\/p>\n

Satsuma\u2019s bitcoin struggles<\/h2>\n

The vote caps a run of trouble for a company that built its identity around holding bitcoin on a public balance sheet. Satsuma bought most of its coins at an average price above $113,000.\u00a0<\/p>\n

With bitcoin trading below $68,000 in July, the treasury sat on steep unrealized losses, and Satsuma\u2019s shares fell more than 99% from their June 2025 peak near \u00a314 to around 21 pence, a valuation below the worth of its own bitcoin holdings.<\/p>\n

The company had already begun trimming its position under liquidity pressure. In December 2025, the company sold 579 of its 1,199 bitcoin<\/a> for roughly \u00a340 million, proceeds it used to retire \u00a378 million in convertible loan notes that matured on December 31. That sale left the company with 620 BTC and about \u00a390 million in cash.\u00a0<\/p>\n

By April, Pantera Capital<\/a>, which held a 6% to 7% stake, was publicly pushing Satsuma\u2019s board to sell its remaining bitcoin and hand the cash back to shareholders rather than persist as a listed treasury company.\u00a0<\/p>\n

That pressure, combined with a shareholder requisition from holders representing more than 20% of Satsuma\u2019s issued capital, forced Wednesday\u2019s vote.<\/p>\n

The board itself split on the outcome. Four of six directors recommended shareholders reject the wind-down, arguing it would dismantle a listed bitcoin vehicle and close off the company\u2019s existing strategy. Two directors backed the proposal, citing shareholder demand and the execution risk of continuing as a going concern.<\/p>\n

Satsuma\u2019s exit adds to a wave of distress among smaller bitcoin treasury companies<\/a> as coin prices sit well below the levels at which many of them accumulated their holdings, leaving boards to choose between raising fresh capital or returning what remains to shareholders.<\/p>\n

This post Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting Satsuma shareholders have voted to unwind the company\u2019s bitcoin treasury and pull its shares off the London Stock Exchange. 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