The Smarter Web Company is considering issuing preferred shares under the reserved code MORE for trading on the London Stock Exchange main market. The company plans to hold an extraordinary general meeting on September 28 to seek approval for the related authorization matters. According to Foresight News, the preferred shares would offer cumulative variable-rate weekly preferred dividends and liquidation preference, but no voting rights.
The company plans to raise 15 million to 25 million pounds, with dividend payments expected to come from operating cash flow, its Bitcoin treasury, and capital market fundraising. Chief Executive Officer Andrew Webley said that, if approved, it would be the first perpetual preferred share issued by a UK-listed company with a Bitcoin treasury strategy and listed on the London Stock Exchange main market.