UK company Satsuma sells all 669 Bitcoin reserves, will return approximately £30.72 million to shareholders

TechFlow: On September 14, according to CryptoSlate, UK-listed company Satsuma Technology has sold its entire holding of 669.4867 bitcoins. The transaction was completed between July 24 and 31, at a net average price of £47,667 per bitcoin, generating total proceeds of approximately £31.91 million. The UK High Court has approved its capital reduction through the cancellation of Class B shares, and the company will return £30.718881 million to eligible shareholders, equating to £0.002734 per Class B share. Payments are expected to be made by no later than September 28 via cheque, bank account, or the CREST system. Shareholders had previously approved the capital return and delisting arrangements for Satsuma, with its London listing cancellation expected to take effect on September 14.