This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Satsuma Technology PLC (LSE: SATS), a public company pioneering the convergence of Bitcoin treasury strategy and decentralised AI, is providing an update on the board composition.
In light of the strategy to expand the Company and the time demands associated with the management of the finance function, the Company has recruited Scott Kaintz as an interim CFO to act in a non-board capacity. The board continues to review potential value-add long-term CFO candidates with industry expertise within decentralised finance.
Scott Kaintz has joined the senior management team and will act as non-board member CFO. Scott is an experienced public markets executive with over 15 years of leadership across listed companies in both CEO and CFO roles. He has successfully overseen numerous capital raises and executed cross-border M&A and structured financings in the natural resources, energy, and technology sectors. A longtime crypto enthusiast and early adopter, Scott has actively engaged with the space since the mining era, building and operating GPU mining rigs, trading through the rise of DeFi, and closely following developments in blockchain infrastructure, digital assets, and tokenized finance. The board believes his appointment provides the necessary support, both in terms of financial systems as well as the listed company regulatory landscape, that is immediately required.
Accordingly, the Company announces that Nick Lyth has stepped down as a director and as CFO. Nick will continue to provide transitional services to ensure the smooth completion of the funding and financial reporting associated with our Prospectus filing with the Financial Conduct Authority and the continued reporting obligations of the Company.
Henry K. Elder, CEO of Satsuma Technology, commented:
“The board and I would like to thank Nick Lyth for his efforts, particularly aiding its execution of multiple workstreams during this transformational period for Satsuma. Ultimately, the requirements and time demands for our CFO following our raise would not have been compatible with Nick’s other appointments. Nick and Scott have been working together to ensure a smooth transition of the CFO role and Nick will continue to assist Satsuma in the near-term as a consultant. We welcome Scott to the team and we are pleased bring into the fold his London markets experience.”
Headquartered in London, the Company is a publicly listed technology company focused on Bitcoin-native treasury management and decentralized 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 decentralized infrastructure and applications.
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