The Smarter Web Company PLC (LSE:SWC) has confirmed that Jesse Myers will leave the business with effect from 1 September 2026, while stressing that the departure will not result in any change to its existing Bitcoin Treasury Policy.
Chief executive Andrew Webley said the company remains committed to delivering its stated strategy and longer-term ambitions. Oversight of the Bitcoin treasury approach will continue to sit with the board, providing continuity in the company’s strategic direction following Myers’ exit.
The Smarter Web Company reiterated that a significant proportion of its treasury reserves and surplus cash is held in Bitcoin. While management sees potential strategic advantages from this approach, the company has also highlighted the substantial risks associated with holding cryptoassets, including sharp price volatility and the relatively limited regulatory framework surrounding the sector.
The company has emphasised that purchasing its shares should not be regarded as either a direct investment or a proxy investment in Bitcoin. However, its exposure to the cryptocurrency means movements in the Bitcoin price could have a material impact on its financial position.
Other risks include possible restrictions affecting cryptocurrency trading, wider market volatility and security-related threats associated with digital assets. The company has advised prospective investors to consider these factors carefully when assessing an investment in the business.
From a financial perspective, the outlook continues to be constrained by persistent negative operating and free cash flow, together with uneven underlying operating performance, despite improvements to the balance sheet. Technical indicators have been more constructive, with the share price trading above important moving averages and the MACD remaining positive. A low price-to-earnings ratio also suggests a relatively modest valuation, although these factors are balanced by continued cash consumption and operational uncertainty.
About The Smarter Web Company PLC
The Smarter Web Company PLC provides web design, website development and digital marketing services. Its business model typically generates revenue through upfront development fees, annual hosting charges and optional recurring monthly marketing services.
The company is pursuing a combination of organic expansion and acquisitions as it seeks to grow its customer base and increase recurring revenues. Bitcoin also forms part of its wider corporate strategy, with the business accepting the cryptocurrency as a payment method and holding Bitcoin under its dedicated treasury policy.
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