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On 15 July 2025, Satsuma Technology PLC announced the exercise of 19,501,000 warrants, including 5,000,000 by a service company of Director Nick Lyth, which generated total proceeds of £878,726.62 from various exercises since June 2025 and will result in the issuance of 19,501,000 new Ordinary Shares. The Company also granted 11,000,000 new warrants to service companies of Directors Darcy Taylor, Matthew Lodge, and Nick Lyth, exercisable at £0.02 each. Following the admission of the new Ordinary Shares, the Company's total issued and voting share capital will consist of 491,800,200 Ordinary Shares.
| Date | 15 Jul 2025 |
| Time | 07:00:08 |
| Category | Capital structure |
| ID | 0170R |
15 July 2025
Satsuma Technology PLC
("SATS " or the "Company")
Exercise of Warrants, PDMR Dealings and Grant of Warrants
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.
Therefore, the above figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
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 |
£0.01 |
£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.
For further information please contact:
|
Satsuma Technology Plc Matt Lodge, Chairman |
Tel: +44 (0)20 3855 8888 |
|
Yellow Jersey PR Charles Goodwin / Annabelle Wills |
Tel: +44 (0)7747 788 221 / +44 (0)7775 194 357
|
|
First Sentinel Corporate Finance Limited - Financial Adviser Brian Stockbridge |
Tel: +44 (0) 20 3855 5551 |
|
Fortified Securities - Broker Guy Wheatley |
Tel: +44 (0) 7493 989014 |
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 |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Satsuma Technology PLC |
||||
|
b) |
LEI |
984500FV43C9G16DK633 |
||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the Financial instrument, type of instrument |
Exercise 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, Non-executive Director of Satsuma Technology PLC |
||||
|
b) |
Initial notification / Amendment |
Initial notification |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Satsuma Technology PLC |
||||
|
b) |
LEI |
984500FV43C9G16DK633 |
||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
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 0.02 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 |
||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Satsuma Technology PLC |
||||
|
b) |
LEI |
984500FV43C9G16DK633 |
||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
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 0.02 exercise price issued at Nil consideration |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information: · Aggregated volume · Price |
4,000,000Ordinary Shares £80,000 |
||||
|
e) |
Date of the transaction |
15 July 2025 |
||||
|
f) |
Place of the Transaction |
Outside of a trading venue |
||||