Satsuma Tech. Share Price (SATS)

Anything that Matt Lodge becomes involved in, quickly turns to shlt. It's his speciality. Look what he did for Dynasty eSports.

Don't look like they want to return anything to retail shareholders, as it keep going on about B SHARES & DE-LIST ? that's why it took so long to word this RNS against it IMO, but even if shareholders get scared and vote against it as they say'' we cannot continue with the status quo surly, forever waiting on BTC to rise and the BOD sitting there doing nothing but watching it from their sofa ? as i cannot see them doing anything else for there wages ? what we know so far since we sold half of our BTC and paid all our debt, is that we had £6.5m cash in the coffers and now they are say we only got £1.2m left after 20 BTC purchase for £1.3m 3 month ago, so it means to me that not only we have lost £20m on our BTC holding in the 6 month they have been dithering on selling them, we have also burnt through £3.5m of working capital in wages and waste unaccounted for I should imagine ? as now they are telling us the year end result 30th June will not be signed off on time ? so suspension is looming ?

FK KNOWS LADS, but something just don't sit right with this one ATM to be sitting in it waiting on suspension, not knowing when it will come back if it will come back, and if there will be anything left for retail after B share bondholders are paid off ? we must read the RNS a few time before coming to a sensible conclusion if it is still an investment case, and at the same time see what the Market think by way of buyers to sellers in the days ahead, I'm not an expert in these matters it's just my thoughts and what i can see after years of let down by BODS

regards..

If the dissenting 2 board members win the vote, this will happen:

"In other words, the Company will return to Shareholders the proceeds of sale of its Bitcoin, less a deduction of £2 million for working capital and a deduction for Transaction and Termination Costs. That sum will be divided pro-rata among the holders of B Shares, with Shareholders entitled to receive one B Share for each Ordinary Share held at the Record Time"

Around £27m will be returned to shareholders and the company just becomes a shell.

If the majority board members win the vote, the company continues, the bitcoin is not sold and the potential to grow from Bitcoin recovery prices.

I can see both sides, but what a difficult vote!

Lots of different angles to the debate......

Yes fair value now. Not much downside imo and worth buying a few at these prices

The prospects look rosey from here, potential of recovery in btc and there’s talk of cashing out which puts the fair value way above current levels