Smarter Web Company Pioneers UK's First BTC-Backed Preferred Stock

The Smarter Web Company has made history by gaining shareholder approval to issue a new class of perpetual preferred shares backed by its corporate Bitcoin treasury.

The company, listed on the London Stock Exchange under the ticker SWC, received over 99.8% shareholder support for the resolution, which will see it issue up to £25 million in new shares, with a minimum target of £10 million.

The preferred shares, trading under the ticker MORE, will carry a cumulative variable-rate preferential dividend and sit above ordinary shares in the liquidation queue. They will also come with no voting rights.

The move is part of The Smarter Web Company's '10-Year Plan', which involves accumulating Bitcoin as a strategic asset. The company currently holds approximately 2,878 BTC, making it the largest publicly disclosed Bitcoin treasury among UK-listed companies.