Satsuma Gets Court Nod for £30.7m Crypto Return to Shareholders

Satsuma Technology has received court approval for its £30.7m capital return to shareholders, following the sale of all 669 BTC held by the company.

The High Court of Justice approved the cancellation of 11,235,874,700 B shares, which will allow Satsuma to make a corresponding capital repayment while ordinary shares proceed towards delisting.

The £30.7m return is fixed at £0.002734 per B share, based on the sale of BTC between July 24 and July 31 at an average price of £47,667 per BTC.

The company had previously announced that it would sell its entire BTC stack and delist from the UK market after shareholders approved the capital return and delisting in a vote on July 20.