Satsuma Technology plc
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anchored·5Vdh9v…QV5ASummary
Satsuma Technology plc (LSE: SATS) was a UK-listed company that raised £163.6 million from shareholders in August 2025 to build a corporate Bitcoin treasury, buying approximately 1,199 BTC at an average price of roughly £84,026 (~$113,000) per coin. Its share price collapsed more than 99% from a June 2025 peak and shareholders voted over 90% to wind down in July 2026; the company sold its remaining 669.49 BTC for £31.9 million and distributed approximately £30.7 million — under 20% of invested capital — back to shareholders after court approval in September 2026. The company is in the process of delisting from the London Stock Exchange.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(19 events)
28 July 2025
Satsuma closes £163.6 million (~$217.6 million) convertible loan note round led by ParaFi Capital. Company rebrands to Satsuma Technology plc with ticker SATS.
The Block / Latham & Watkins1 August 2025
Company accumulates Bitcoin treasury, reaching peak holding of approximately 1,199 BTC at an average cost of roughly £84,026 (~$113,000) per coin.
Protos / Crypto Briefing17 December 2025
FCA approves Satsuma prospectus for proposed admission to the Equity Shares (Commercial Companies) Category. FCA correspondence to the company on compliance matters is noted.
Latham & Watkins31 December 2025
Convertible loan notes mature. Satsuma sells 579 BTC for approximately £40 million to fund CLN redemptions, spending approximately £78.2 million on redemptions total — crystallising losses.
Investegate Final Audited Results / The Block6 March 2026
CEO Henry Elder resigns after approximately seven months. Ranald McGregor-Smith becomes executive chair.
AJ Bell23 April 2026
Pantera Capital, holding approximately 6.7% equity, is reported to be among investors publicly pushing for Satsuma to sell its remaining Bitcoin and return capital to shareholders.
CoinDesk / The Block1 May 2026
Shareholders formally requisition a general meeting to vote on capital return and delisting resolutions.
Investegate / Globe and Mail20 July 2026
General meeting held. Return-of-capital resolution passes 90.63% in favour; delisting resolution passes 90.59% in favour. Board majority had opposed the resolutions.
Investegate RNS — Result of GM31 July 2026
BTC liquidation complete. All 669.4867 BTC sold for total proceeds of £31.912 million at an average price of £47,667 — approximately 43% below average acquisition cost.
Crypto Briefing / Crowdfund Insider8 September 2026
High Court approves capital reduction. 11,235,874,700 B Shares cancelled. Total distribution to B shareholders confirmed at £30,718,881.43 (£0.002734 per share).
Investegate RNS — Court approval of reduction of capital14 September 2026
Satsuma announces extension of LSE delisting date beyond 14 September 2026 to allow time to arrange an alternative listing venue for ordinary shares.
Crypto Times17 September 2026
Final audited results published. Company reports pre-tax loss of £76.9 million for year ended 28 February 2026.
Investegate RNS — Final Audited Results28 September 2026
Expected date for B shareholder distribution payments to clear (£30,718,881.43 total; £0.002734 per B share).
Investegate RNS — Court approval of reduction of capitalDecision Log
- hash: GD7HBNa7puMxz3g87Z36L7DB2JWJPNvBKfZkopufGsJA
This investigation is cryptographically anchored to the Solana blockchain (1 event). 14 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/22/2026, 12:09:15 PM
last updated: 9/22/2026, 4:59:11 PM
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