UK company sells entire Bitcoin reserve to return 669 BTC to shareholders – here is who actually gets paid

Satsuma Technology said the High Court of Justice approved the cancellation of 11,235,874,700 B shares, authorizing the share-capital reduction behind a £30,718,881 return to shareholders. The return is fixed at £0.002734 per B share after the UK-listed company sold all 669 BTC it disclosed.The B shares are the mechanism for moving cash back to investors. Under the transaction structure, eligible investors received one B share for each ordinary share held at the record time. Canceling those B shares allows Satsuma to make the corresponding capital repayment while the ordinary shares proceed toward delisting.Shareholders had approved the capital return and delisting on July 20. That vote launched the sequence, but it did not itself complete the Bitcoin sale or satisfy the court condition attached to the reduction.From Bitcoin sale to fixed returnSatsuma sold the 669.4867 BTC between July 24 and July 31 at a net volume-weighted average realized price of £47,667 per BTC, generating £31,912,395. The company reported £35,324,953 in cash at the record time, including cash held by its subsidiary.It calculated the B-share value after allowing for £2.6 million of estimated transaction and t...