The Smarter Web Company surges 36% on Bitcoin-backed stock plans

Smarter Web Company PLC, a digital services provider listed on the London Stock Exchange under ticker SWC, saw its stock rocket more than 36% after revealing plans to create what would be the UK’s first sterling-denominated preferred shares backed by a Bitcoin treasury. The proposed instrument, dubbed “MORE” shares, would be perpetual preferred shares listed on the LSE Main Market. The company is targeting a raise of £15-25 million gross, with a floor of £10 million, all earmarked to expand its existing Bitcoin holdings under what management calls a 10-Year Plan. What the MORE shares actually look like The MORE shares would sit between debt and common equity, offering holders a cumulative variable-rate weekly preferential dividend and priority over ordinary shareholders in a liquidation scenario. MORE shareholders won’t get voting rights. The company also retains the right to redeem the shares at its discretion. What makes the whole thing mechanically possible is a High Court ruling from July 2026. That decision confirmed a £210 million reduction of Smarter Web’s share premium account, which unlocked roughly £132.5 million in distributable reserves. Without that legal green light, ...