Exercise of Warrants, PDMR and Grant of Warrants
Company issues 19.5m new shares from warrant exercises and grants 11m new warrants to directors.
- Warrants exercised 19,501,000
- Exercise price range 1p to 6p per share
- Proceeds from warrant exercises £878,726.62
- New warrants granted to directors 11,000,000
- New warrant exercise price 2p per share
- Total warrants in issue post-transaction 102,552,333
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LONDON, ENGLAND - Satsuma Technology PLC (LSE: SATS; FSE: NM1) announces that it has received notices of exercise of warrants from warrant holders in respect of 19,501,000 warrants over ordinary shares of £0.001 each in the Company ("Ordinary Shares"). Of these, 15,000,000 warrants have an exercise price of 1p, and 4,501,000 warrants have an exercise price of 6p per Ordinary Share. This includes the exercise of 5,000,000 warrants at an exercise price of 1p per share by a service company of Nick Lyth, a Director of the Company. As a result, the Company will issue a total of 19,501,000 new Ordinary Shares to the warrant holders.
Admission and Total Voting Rights
Application will be made for the 19,501,000 new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on the London Stock Exchange Main Market ("Admission"). Dealings are expected to commence on or around 18 July 2025.
Following Admission, the Company's total issued and voting share capital will consist of 491,800,200 Ordinary Shares. The Company does not hold any ordinary shares in treasury.
From June 2025, multiple exercisers have exercised the following warrants, resulting in total proceeds of £878,726.62.
| Announced date | Exercise warrants | Exercise price | Payment |
|---|---|---|---|
| 24-Jun-25 | 6,666,666 | £0.025 | £166,666.65 |
| 25-Jun-25 | 9,999,999 | £0.025 | £249,999.97 |
| 9-Jul-25 | 1,400,000 | £0.03 | £42,000.00 |
| 15-Jul-25 | 4,501,000 | £0.06 | £270,060.00 |
| 15-Jul-25 | 15,000,000 | £0.0 1 | £150,000.00 |
Grant of Warrants
The Company also announces that it has granted a total of 11,000,000 Warrants to three Directors (through companies owned by them) of the Company to subscribe for new ordinary shares of £0.001 each ("Warrants") as outlined below. The Warrants are exercisable at £0.02 per ordinary share and have an exercise period limit of three years, vesting immediately.
| Director | Number of Warrants being issued | Total number of Warrants held including this issue |
|---|---|---|
| Letter 4 Consulting Ltd (a company controlled by Darcy Taylor) | 3,000,000 | 5,500,000 |
| Fidelio Partners Pte Ltd (a company controlled by Matthew Lodge) | 4,000,000 | 6,500,000 |
| Dark Peak Services Ltd (a company controlled by Nick Lyth) | 4,000,000 | 9,000,000 |
Following the issue of the Warrants and exercise of Warrants, the Company will have a total of 102,552,333 warrants in issue.
About Satsuma Technology PLC (SATS.L) Headquartered in London, the Company is a publicly listed technology company focused on Bitcoin-native treasury management and decentralised finance focused artificial intelligence. The Company operates a treasury-first model, aligning itself with the most secure monetary network in history-Bitcoin-while building and investing in AI-based decentralised infrastructure and applications.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Dark Peak Services Ltd | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Person closely associated with Nick Lyth, a director of the company | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Satsuma Technology PLC | ||||
| b) | LEI | 984500FV43C9G16DK633 | ||||
| a) | Description of the Financial instrument, type of instrument | E xercise of warrants | ||||
| Identification Code | GB00BMFCRZ80 | |||||
| b) | Nature of the transaction | Exercise of warrants at GBP 0.01 exercise price issued | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | 5,000,000 Ordinary Shares £50,000 | ||||
| e) | Date of the transaction | 15 July 2025 | ||||
| f) | Place of the Transaction | Outside of a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Letter 4 Consulting Ltd | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | PCA of Darcy Taylor, N on-executive Director of Satsuma Technology PLC | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Satsuma Technology PLC | ||||
| b) | LEI | 984500FV43C9G16DK633 | ||||
| a) | Description of the Financial instrument, type of instrument | Warrants over ordinary shares | ||||
| Identification Code | GB00BMFCRZ80 | |||||
| b) | Nature of the transaction | Issue of Warrants at GBP 0.0 2 exercise price issued at Nil consideration | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | 3,000,000 Ordinary Shares £60,000 | ||||
| e) | Date of the transaction | 15 July 2025 | ||||
| f) | Place of the Transaction | Outside of a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Dark Peak Services Ltd | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | PCA of Nick Lyth, Director of Satsuma Technology PLC | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| a) | Name | Satsuma Technology PLC | ||||
| b) | LEI | 984500FV43C9G16DK633 | ||||
| a) | Description of the Financial instrument, type of instrument | Warrants over ordinary shares | ||||
| Identification Code | GB00BMFCRZ80 | |||||
| b) | Nature of the transaction | Issue of Warrants at GBP 0.0 2 exercise price issued at Nil consideration | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | 4,000,000 Ordinary Shares £80,000 | ||||
| e) | Date of the transaction | 15 July 2025 | ||||
| f) | Place of the Transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.