The Smarter Web Company PLC has announced a new Bitcoin acquisition as part of its ongoing treasury strategy, alongside the introduction of a long-term incentive plan for employees.

The company purchased 28 Bitcoin at an average price of £57,588 per coin, totaling approximately £1.61 million. 

This brings its total holdings to 2,778 Bitcoin, acquired at an average price of £81,785 per coin and a cumulative investment of £227.2 million.

The firm reported a quarter-to-date BTC yield of 12.98%, a metric used to measure the change in Bitcoin holdings relative to its fully diluted share count.

The purchase follows continued use of a credit facility with Coinbase, under which total borrowings now stand at £13.5 million. 

The facility is secured against the company’s Bitcoin holdings and carries a variable interest rate between 6.75% and 7.25%.

In a separate development, shareholders approved a Long-Term Incentive Plan (LTIP) with 96.7% support at the company’s Annual General Meeting. 

The plan grants conditional share awards to directors, senior management, and employees, with vesting tied to predefined performance milestones.

These milestones are based on a combination of market capitalization and share price targets, ranging from £2.5 billion and £5 per share to £200 billion and £40 per share. 

If all conditions are met, the plan could result in the issuance of up to 3.8% of the company’s share capital.

Awards under the LTIP are subject to both performance and time-based conditions. Vesting begins no earlier than three years after grant and occurs over a minimum five-year period, contingent on continued service.

Chief Executive Officer Andrew Webley stated that the plan is intended to align employee incentives with long-term company performance:

“The LTIP represents an important step in building a team that is fully aligned with The Smarter Web Company’s long-term ambitions. The milestones are deliberately ambitious. They reflect our belief in where the Company can go over the next decade. By tying awards to significant market capitalisation and share price targets, and structuring vesting over a period, we are ensuring that the interests of our people and our shareholders are aligned.”

The company continues to integrate Bitcoin into its treasury strategy while operating its core web design, development, and digital marketing business.

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