The Smarter Web Company approved to launch UK Bitcoin-backed preferred shares

The Smarter Web Company (LSE: SWC) has received overwhelming shareholder approval to launch a new class of perpetual preferred shares backed by its corporate Bitcoin treasury. With over 99.8% of shareholders voting in favor, the move marks the first time such an instrument will be listed on the London Stock Exchange.

The company aims to raise between £10 million and £25 million through the new shares, which will trade under the ticker MORE. The proceeds are intended to expand the firm's Bitcoin holdings. These preferred shares will carry a cumulative variable-rate preferential dividend and hold priority over ordinary shares in liquidation, though they will not grant voting rights. The official launch remains contingent on approval from the Financial Conduct Authority.

The Smarter Web Company currently holds approximately 2,878 BTC, making it the largest publicly disclosed Bitcoin treasury among UK-listed companies. This strategy is part of a broader Bitcoin accumulation initiative known as the company's ‘10-Year Plan.’