Satsuma shareholders approve the sale of 668 BTC reserves and initiate delisting proceedings

Deep Tide TechFlow message, on July 22, British Bitcoin treasury listed company Satsuma Technology’s shareholders passed a proposal with 90% support, approving the company to sell all 668 BTC, return capital to investors, and delist from the London Stock Exchange. Under the arrangement, the company expects to complete the delisting on September 14, 2026, and complete payment and CREST transfers on September 28.

The proposal was submitted by shareholders. Of the company’s 6 directors, 4 opposed it, saying it would be more in shareholders’ interests to keep Satsuma as a listed Bitcoin reserve platform, while the other 2 directors supported returning capital. Satsuma’s Bitcoin reserve strategy has lasted less than a year. Previously, it raised $218 million through convertible notes financing and then sold part of its Bitcoin reserves to repay note holders that had not converted the notes; as of April this year, the company’s share price is down more than 99% from its peak.