Satsuma Tech. Share News (SATS)

(Alliance News) - Satsuma Technology PLC said on Friday its Chief Executive Officer Henry Elder resigned with effect from today, less than eight months after his appointment.

The London-based Bitcoin treasury firm formerly known as Tao Alpha gave no reason for the resignation.

Elder's duties will be assumed ad interim by Ranald McGregor-Smith, who becomes executive chair having until now been the company's non-executive chair. Additionally, Clive Carver will fulfil a temporary executive role, "principally to support the company's ongoing compliance with its continuing obligations as a listed company in light of the Financial Conduct Authority's correspondence in December 2025", Satsuma said referring to its uplisting plans.

The appointments will be subject to review by shareholders at the annual general meeting, the company added, while saying that the board is continuing to engage with shareholders over the requisitioned resolutions to appoint Nicholas Lee and Paddy Dean to the board.

Elder was appointed on July 14 last year, coming from UTXO Management, an investment firm focused on Bitcoin securities and derivatives, acquired by Nakamoto Inc last month.

Satsuma Technology shares were down 5.5% at 0.22 pence each on Friday afternoon in London.

By Martin Miraglia, Alliance News reporter

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