Satsuma Technology shareholders have voted to sell the company’s Bitcoin holdings, return most available capital and cancel its London Stock Exchange listing.

More than 90 percent of votes supported both the capital return and delisting at a general meeting on July 20. The decision reverses a Bitcoin treasury strategy launched after a $218 million fundraising in 2025.

The company will use a B Share scheme for distributions, with a record date of August 3. It plans to seek High Court approval and aims to complete the delisting on September 14. Satsuma holds 668 Bitcoin, with estimated net proceeds for shareholders between £27.7 million and £30.9 million after costs.

The board was divided on the proposal, with four directors recommending against it and two in favor. Shareholders representing more than 20 percent of capital initiated the push for liquidation.

The company raised £163.6 million through convertible notes last year, with investors contributing Bitcoin directly. It later sold portions of its holdings to meet obligations, leaving it with 668 Bitcoin. The share price had declined significantly relative to asset value.

Satsuma expects to retain approximately £2 million in working capital post-distribution and may pursue a reverse takeover as a cash shell. The capital return is subject to court confirmation.