Satsuma Technology has completed the sale of its entire Bitcoin reserve after the High Court of Justice approved the cancellation of 11,235,874,700 B shares, clearing the way for a £30,718,881 return to shareholders. The court approval removed the final condition attached to the share-capital reduction.
The company sold 669.4867 BTC between July 24 and July 31 at a net volume-weighted average realized price of £47,667 per BTC, generating £31,912,395. At the record time, Satsuma reported £35,324,953 in cash, including cash held by its subsidiary. The return was fixed at £0.002734 per B share after allowing for an estimated £2.6 million in transaction and termination costs and retaining £2 million as working capital.
Shareholders had approved the capital return and delisting on July 20, but the payout remained conditional on High Court approval. The Sept. 8 ruling finalized the amount due, while the distribution itself is expected to reach eligible shareholders via check, bank-account credit, or CREST credit on or before Sept. 28. The company's London listing is expected to be cancelled at 8 a.m. on Sept. 14.
The disposal removes Satsuma's full Bitcoin position from its balance sheet and redirects the value of the holding toward investors, marking a corporate exit from a Bitcoin treasury strategy rather than a partial trim.
