Business
Monthly Fact Pack — July 2026 Update
Satsuma Technology PLC has announced its July 2026 monthly fact pack, detailing a proposed return of capital and delisting, which requires a 75% shareholder majority at a General Meeting on July 20, 2026. Due to uncertainty surrounding this proposal, the company's audited accounts for the year ended February 28, 2026, were not published by the June 30 deadline, leading to a temporary suspension of trading in its ordinary shares effective July 1, 2026. The company is also implementing further cost reductions, identifying an additional £1.2 million in potential annualised operating expenditure savings, and has launched a live metrics page for transparent reporting. Satsuma's Bitcoin treasury remains at 668.48 BTC, valued at £29.44 million, with an average acquisition cost of £84,026 per BTC, resulting in an unrealised loss of £39,984 per BTC. Operationally, the company is reorienting towards the Bitcoin ecosystem, with a pilot Lightning Network node now live. Disclaimer*
About this update from Satsuma Technology Plc
1 July 2026 Satsuma Technology Plc ('Satsuma' or the 'Company') Monthly Fact Pack - July 2026 Update Satsuma Technology PLC (LSE: SATS), the UK Main Market listed Bitcoin treasury company, today continues its series of monthly Fact Packs providing shareholders and the market with a transparent, standardised snapshot of the Company's financial position and Bitcoin treasury. June 2026 Highlights There were no acquisitions or disposals of Bitcoin during the month; the movement in the Company's net asset value over the period principally reflects movements in the Bitcoin market price, with cash amounts decreasing in-line with the annualised cost base. The principal developments during the period were as follows. Proposed Return of Capital and Delisting On 6 May 2026, the Company announced that it had received representations from a group of shareholders, representing in excess of 20% of the Company's issued share capital, requesting that a resolution be put to shareholders to return substantially all of the Company's capital to them in cash. On 24 June 2026, the Company posted a circular to shareholders (the "Circular") setting out the proposed Return of Capital - to be effected through a B Share Scheme - together with notice of a General Meeting and an update on the timing of the Company's audited accounts for the year ended 28 February 2026. The Circular contains a recommendation from four of the Directors to vote against the resolutions and from two dissenting Directors to vote in favour. As the Board operates by majority decision, the recommendation of the Board is that shareholders vote against the resolutions. The General Meeting will be held at 2.00 p.m. on 20 July 2026. For the Return of Capital to proceed, both the Return of Capital Resolution and the Delisting Resolution must be passed by 75% majorities; the resolutions are inter-conditional. The proposed return of capital would be effected by selling the Company's Bitcoin and returning the net proceeds to shareholders in cash, and would result in the cancellation of the Company's listing. Further details, including the expected timetable, are set out in the Circular, which is posted to the Company's website www.satsuma.digital Trading Suspension and Audited Accounts The Company was required to publish its audited ac...
View stock analysis, news, and events for Satsuma Technology Plc