Exercise of Warrants, PDMR and Grant of Warrants
15/07/2025 07:00
RNS Number : 0170R
Satsuma Technology PLC
15 July 2025
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 |
| 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 |
| 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 |
| 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 atGBP 0.01exercise price issued | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | 5,000,000Ordinary 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 Directorof 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 atGBP 0.02 exercise price issued at Nil consideration | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | 3,000,000Ordinary 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 atGBP 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 | ||||