Court approval of reduction of capital
Satsuma Technology PLC has received High Court approval to cancel 11,235,874,700 B Shares, facilitating a return of capital totaling £30,718,881.43, equivalent to £0.002734 per B Share. Shareholders can expect to receive their payments via cheque or electronic credit by September 28, 2026, with an option for international currency transfers. The company's total voting rights remain at 11,235,874,700 Ordinary Shares.
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Satsuma Technology PLC (LSE: SATS), the UK Main Market listed company, announces that today the High Court of Justice has approved the cancellation of 11,235,874,700 B Shares of £0.002734 each. Accordingly, the Company will now return to Shareholders £30,718,881.43 (being £0.002734 per B Share).
Settlement
It is expected that Shareholders entitled to the Capital Repayment will be sent cheques or receive a credit to their bank account that is held on file or receive a credit to their CREST accounts on or before 28 September 2026. Cheques will be made out to the name of the Shareholder as it appears on the Company's register of members and posted to that Shareholder's address as it appears on such register. Cheques will be dispatched to Shareholders at their own risk.
As a default, all Shareholders will receive their proceeds in pounds sterling. The Company has put in place an International Funds Transfer facility with its Registrar, an optional payment method allowing Shareholders to receive payments electronically in their local currency.
Information for how to register your bank mandate in order to receive your proceeds electronically (whether in pounds sterling or through the International Funds Transfer facility) can be found by visiting the Registrar's shareholder portal at www.investorcentre.co.uk. If any shareholders experience issues, the Registrar has a dedicated helpline for Investor Centre queries at +44(0)370 873 5805. Shareholders wishing to receive their proceeds electronically should register their bank mandate no later than 10 September 2026.
Total Voting Rights
The Company's issued share capital comprises 11,235,874,700 Ordinary Shares of £0.001 each, with each share carrying the right to one vote. Therefore, the total number of voting rights in the Company is 11,235,874,700. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
General
Capitalised terms in this announcement have the meaning given to them in the Company's Circular dated 24 June 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.