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(Correcting references to Shard Merchant Capital and Shard Capital Management, and bitcoin price) Smarter Web Co PLC on June 19 issued 7 million new shares under a subscription agreement, alongside buying cryptocurrency for treasury allocation. The Guildford, Surrey-based website design agency signed a deal with Shard Merchant Capital Ltd. This was arranged by Tennyson Securities, a corporate broking team within London-based asset manager Shard Capital Partners LLP. Smarter Web noted that Shard Merchant Capital ‘is a client of Shard Capital Partners LLP.’ The terms of the deal enable Shard Merchant Capital to ‘use reasonable endeavours to place up to 21 million’ new Smarter Web shares, provided the price is not below the previous day’s closing price on Aquis, and the volume is not greater than 20% of the current trading day. After the first tranche issue on June 19, around 14 million new Smarter Web shares were unreleased. Shard Merchant Capital must place each tranche of shares within three months from subscribing for them, with Smarter Web entitled to approximately 97% of net proceeds. Smarter Web Chief Executive Andrew Webley commented: ‘I am looking forward to working with our advisors on evaluating the effectiveness and perhaps we can then inspire other UK companies to adapt a similar mechanism, as we have seen with our pioneering approach to treasury management using bitcoin.’ The tranche release came alongside Smarter Web’s announcement that it had purchased 104.28 bitcoin at an average £77,751 for a total £8.1 million. This left the company’s total bitcoin holding at 346.63 units, at an average £78,480 for a total of £27.2 million, as at June 19. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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