TechFlow reports, on July 22, shareholders of UK listed Bitcoin treasury company Satsuma Technology passed the proposal with 90% support, approving the company to sell all 668 Bitcoins, return capital to investors, and delist from the London Stock Exchange. According to the arrangement, the company expects to complete the delisting on September 14, 2026, and complete payment and CREST transfer on September 28.
The proposal was initiated by shareholders. 4 out of the company's 6 directors opposed it, believing that retaining Satsuma as a listed Bitcoin reserve platform is more in line with shareholders' interests, while the other 2 directors supported returning capital. Satsuma's Bitcoin reserve strategy lasted less than a year; it previously raised $218 million through convertible notes and subsequently sold some Bitcoins to repay holders of unconverted notes; as of April this year, the company's stock price had fallen more than 99% from its peak.
