ME News reports that on July 22 (UTC+8), shareholders of Satsuma Technology, a UK-listed Bitcoin reserve company, approved with 90% support the sale of its entire Bitcoin holdings, the return of capital to investors, and delisting from the London Stock Exchange. The company currently holds 668 BTC (approximately $43.5 million), making it the second-largest listed Bitcoin reserve company in the UK. The proposal was put forward by shareholders; four of the six directors opposed it, arguing that maintaining Satsuma as a listed Bitcoin treasury vehicle would be more beneficial to shareholders, while two directors supported returning capital. According to the timeline, the company expects to cancel its listing on September 14, 2026, with payments and CREST transfers to be completed on September 28, 2026. Satsuma’s Bitcoin reserve strategy lasted less than a year. Last year, it raised $218 million through convertible notes, with investors receiving 1,097 BTC in lieu of部分 cash. Several months later, the company sold 579 BTC to repay note holders who opted not to convert. As of April, the stock price had declined by over 99% from its peak. (Source: Foresight News)
Satsuma shareholders approve BTC liquidation and delisting.
KuCoinFlashShare
Summary
Satsuma shareholders approve BTC liquidation and delisting amid shifting market support and resistance levels. On July 22 (UTC+8), UK-based Bitcoin reserve firm Satsuma Technology received 90% shareholder approval to sell its 668 BTC holdings (approximately $43.5 million), return capital, and delist from the London Stock Exchange. Four directors opposed the plan, advocating for the company to remain a listed Bitcoin treasury vehicle. Delisting is scheduled for September 14, 2026, with capital repayment due by September 28. Satsuma’s Bitcoin strategy lasted less than a year. In 2025, the company raised $218 million through convertible notes, exchanging 1,097 BTC for cash. Months later, 579 BTC were sold to repay investors. By April 2026, the stock had declined over 99% from its peak, raising concerns about the risk-reward profile of holding listed Bitcoin assets.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.