|
Satsuma Technology PLC - London-based bitcoin treasury firm formerly known as Tao Alpha - Posts circular to investors concerning a proposed return of capital announced in May. The return was proposed by a group of shareholders and the board has been unable to reach a unanimous recommendation regarding it. Accordingly, the circular contains a recommendation from four of the directors to vote against the resolutions and a recommendation from two dissenting directors to vote for them. Since the board as a whole operates by majority decision, the recommendation is to vote against the resolutions. If approved, Satsuma Technology says it will return to shareholders the proceeds of sale of its bitcoin and cash balances, less deductions of £2 million for working capital and transaction and termination costs. The company will not liquidate its bitcoin unless and until the resolutions are approved. In the meantime, shares in the firm have been suspended pending publication of results. Current stock price: 0.20 pence 12-month change: down 98% Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
