Key Highlights
- Satsuma Technology plans to extend its September 14 delisting date until after its annual general meeting.
- The company is seeking an alternative listing venue for its ordinary shares before proceeding with the delisting.
- Satsuma’s ordinary shares will continue to be suspended from trading on the Official List.
Satsuma Technology PLC, a UK Main Market-listed company trading under the ticker SATS, announced on September 14, 2026, that it intends to extend the date for its delisting from the London Stock Exchange.
According to the official announcement, the original delisting date of September 14, 2026, will be postponed until after the company’s annual general meeting, which is scheduled to follow publication of its report and accounts for the year ended February 28, 2026.
The company stated that the delay is intended to allow time for an alternative listing venue for the ordinary shares to be arranged. Shares will remain suspended from trading on the Official List. The announcement confirmed there is no impact on the timetable for the capital repayment, which follows court approval granted on September 8, 2026.
Capital repayment timeline and terms
Shareholders entitled to the capital repayment are expected to receive payments on or before September 28, 2026. Distributions will be made by check, credit to bank accounts held on file, or credit to CREST accounts.
Satsuma Technology PLC has issued 11,235,874,700 B shares of £0.002734 each. This followed shareholder approval for a capital reduction and the exercise of warrants. Shareholders are due to receive a total of £30,718,881.43, equivalent to £0.002734 per B share. Ordinary shares were marked ex-entitlement to the B shares on August 4, 2026.
The company has sold all of its Bitcoin holdings for £31,912,395. As of the announcement, Satsuma held £35,324,953 in cash. Revised transaction costs are listed at £2,600,000, with £2,000,000 allocated for working capital and termination costs.
Background on shareholder requests and capital raise
In an earlier development reported in April 2026, Pantera Capital Management was among investors who requested that Satsuma divest its remaining Bitcoin holdings, then valued at approximately $50 million, and return capital to shareholders. The information was reported by Bloomberg, citing people familiar with the matter. Satsuma confirmed at the time that some shareholders had requested a return of capital, without identifying the parties involved.
Executive chairman Ranald McGregor-Smith said in a statement provided to Bloomberg that the company was exploring options to facilitate the requests while protecting the interests of all shareholders. A spokesperson for Pantera did not respond to a request for comment at that time.
Satsuma had raised £164 million in August 2025 through a convertible loan note. The funds were designated for a Bitcoin treasury strategy. The round was oversubscribed by more than 63 percent and included participation from ParaFi Capital, Pantera Capital, Digital Currency Group, Kraken, Arrington Capital, and several London institutional equity funds. Approximately $125 million of the raise was settled directly in Bitcoin, with the company accepting 1,097.29 BTC in lieu of cash.
The September 14 announcement focuses solely on the revised delisting schedule and the unchanged capital repayment process. No further details were provided regarding the status of any alternative listing venue or the timing of the annual general meeting beyond its link to the publication of the February 28, 2026, accounts.
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