Smarter Web Lists Perpetual Preferred Shares on London Stock Exchange

The Smarter Web Company PLC (LSE: SWC) is planning to list perpetual preferred shares on the London Stock Exchange's Main Market. The company, which holds Bitcoin as its primary treasury reserve asset, aims to raise between £15 million and £25 million in gross proceeds through this listing.

The proposed 'MORE' Preferred Shares would carry a cumulative variable-rate weekly preferential dividend and a liquidation preference, but no voting rights at shareholder meetings. The company's ordinary shares already trade on the Main Market under the ticker SWC and on the OTCQB Venture Market in the U.S. under TSWCF.

The proceeds from this listing would support acquisitions of revenue-generating businesses, working capital, and the company's broader goal of growing its Bitcoin per share over time. Chief executive Andrew Webley described the proposed shares as 'the first of their kind in the UK: a pounds sterling-denominated, London Stock Exchange Main Market-listed perpetual preferred share issued by a UK-incorporated commercial company with a Bitcoin treasury strategy.'

The move extends a pattern in which Bitcoin treasury companies tap preferred equity to raise long-term capital without diluting ordinary shareholders. The Smarter Web Company has posted a circular convening a general meeting of ordinary shareholders on 28 September 2026, where resolutions will be put forward to authorise the creation of the share class.