Smarter Web Stock Soars on Plans to Back New Shares with Bitcoin
Smarter Web Company PLC's stock has surged by over 36% after announcing plans to create sterling-denominated preferred shares backed by a Bitcoin treasury. The company aims to raise £15-25 million, with a floor of £10 million, to expand its existing Bitcoin holdings under a 10-Year Plan.
The proposed 'MORE' shares would offer holders a cumulative variable-rate weekly preferential dividend and priority over ordinary shareholders in a liquidation scenario. However, MORE shareholders won't have voting rights, and the company retains the right to redeem the shares at its discretion.
The High Court ruling from July 2026 unlocked £132.5 million in distributable reserves, allowing Smarter Web to pay dividends on the new share class. A general meeting for ordinary shareholders is set for September 28, 2026, and the offering remains contingent on the Financial Conduct Authority approving the prospectus.
Smarter Web holds approximately 2,878 BTC, worth over £100 million at current prices, making it one of the largest publicly disclosed Bitcoin positions among UK-listed corporations. The company's strategy draws comparisons to MicroStrategy's playbook in the US.