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      Smarter Web Company Sees 36% Stock Surge on Bitcoin-Backed Share Plans

      Smarter Web Company PLC, a digital services firm based in Bristol, UK, experienced a significant stock increase of over 36% following its announcement to launch the UK's first Bitcoin-backed preferred shares on the London Stock Exchange. The proposed shares, referred to as "MORE" shares, aim to raise between £15 million and £25 million, with a minimum target of £10 million, to expand the company's Bitcoin holdings as part of its 10-Year Plan.

      The MORE shares will be perpetual preferred shares that offer holders a cumulative variable-rate weekly preferential dividend, placing them between debt and common equity. However, these shareholders will not have voting rights, and the company retains the option to redeem the shares at its discretion. This initiative was made possible by a High Court ruling in July 2026, which confirmed a £210 million reduction of Smarter Web's share premium account, unlocking approximately £132.5 million in distributable reserves necessary for dividend payments.

      A general meeting for ordinary shareholders is scheduled for September 28, 2026, to vote on the creation of this new share class, pending approval from the Financial Conduct Authority for the prospectus. Smarter Web currently holds around 2,878 BTC, representing the largest publicly disclosed Bitcoin position among UK-listed companies, valued at over £100 million based on current market prices. Analysts have responded positively, with TD Cowen raising its price target for Smarter Web from £0.64 to £0.73, suggesting a potential upside of nearly 90% from its recent trading level.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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