Bitcoin Treasury Policy

Important Information: General

This website has been prepared and issued by The Smarter Web Company PLC (the “Issuer”). The Issuer is a public limited company incorporated in England and Wales with registered number 00092343 and its registered office is 160 Aztec West, Almondsbury, Bristol, BS32 4TU. This website contains general information about the Issuer and its business.

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By visiting this website, each recipient agrees to be bound by the limitations set out in this section entitled “Important Information” and elsewhere in this website. Notwithstanding the foregoing, nothing in this website shall exclude any liability for, or remedy in respect of, fraudulent misstatement.

The Smarter Web Company PLC reserves the right to update this important information at any time.

Important Information: Bitcoin Treasury

The Smarter Web Company Plc (the Company) holds treasury reserves and surplus cash in Bitcoin. Bitcoin is a type of cryptocurrency or cryptoasset. Whilst the Board of Directors of the Company considers holding Bitcoin to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the Financial Conduct Authority or FCA) considers investment in Bitcoin to be high risk. At the outset, it is important to note that an investment in the Company is not an investment in Bitcoin, either directly or by proxy. However, the Board of Directors of the Company consider Bitcoin to be an appropriate store of value and growth for the Company’s reserves and, accordingly, the Company is materially exposed to Bitcoin. Such an approach is innovative, and the Board of Directors of the Company wish to be clear and transparent with prospective and actual investors in the Company on the Company’s position in this regard.

The Company is neither authorised nor regulated by the FCA. And cryptocurrencies (such as Bitcoin) are unregulated in the UK. As with most other investments, the value of Bitcoin can go down as well as up, and therefore the value of the Company’s Bitcoin holdings can fluctuate. The Company may not be able to realise its Bitcoin exposure for the same as it paid in the first place or even for the value the Company ascribes to its Bitcoin positions due to these market movements. And because Bitcoin is unregulated, the Company is not protected by the UK’s Financial Ombudsman Service or the Financial Services Compensation Scheme.

Nevertheless, the Board of Directors of the Company has taken the decision to invest in Bitcoin, and in doing so is mindful of the special risks Bitcoin presents to the Company’s financial position. These risks include (but are not limited to): (i) the value of Bitcoin can be highly volatile, with value dropping as quickly as it can rise. Investors in Bitcoin must be prepared to lose all money invested in Bitcoin; (ii) the Bitcoin market is largely unregulated. There is a risk of losing money due to risks such as cyber-attacks, financial crime and counterparty failure; (iii) the Company may not be able to sell its Bitcoin at will. The ability to sell Bitcoin depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay; and (iv) cryptoassets are characterised in some quarters by high degrees of fraud, money laundering and financial crime. In addition, there is a perception in some quarters that cyber-attacks are prominent which can lead to theft of holdings or ransom demands. The Board of Directors of the Company does not subscribe to such a negative view, especially in relation to Bitcoin. However, prospective investors in the Company are encouraged to do your own research before investing.

Data Defintitions

The information displayed on this page is derived from a combination of internal company data and publicly available sources. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of the data presented. The content is provided for general informational purposes only and should not be relied upon for decision-making without independent verification.

Data is updated periodically after company announcements. Market data, for example share price and Bitcoin price, is updated with a short delay to the live market price.

BTC Yield is a key performance indicator (KPI) that reflects the percentage change in the Bitcoin Per Share for the Company over a specified period of time. Bitcoin Per Share is defined as the ratio of Total Bitcoin Holdings to Shares In Issue at a particular point in time. The Company uses BTC Yield to assess the performance of its Bitcoin acquisition strategy, which is intended to be accretive to shareholders.

NAV is defined as the value of our treasury assets, meaning our Bitcoin holdings combined with the approximate net cash available to be deployed into Bitcoin.

mNAV is defined as the market cap divided by the value of our treasury assets, showing the premium that the market values the company compared to the value of the treasury.