The Smarter Web Company notes that the weekly Preferred Dividend (ISIN: GB00C0HJ0D12; TIDM: MORE) for the week ending Friday 23 October 2026 will be £0.2301 per Preferred Share. The record date will be Friday 23 October 2026, with an ex-dividend date of Thursday 22 October 2026. The payment date will be Monday 9 November 2026, in line with the expected timetable set out in Appendix 1 to the Company's announcement of 12 October 2026.
As previously announced by the Company, the Preferred Shares have attached to them a right for the holder to receive a cumulative variable rate weekly preferential dividend ("Preferred Dividend"), a liquidation preference, and a right for the Company to redeem the Preferred Shares, but no right to vote at a general meeting of shareholders of the Company. The Preferred Dividend Rate is currently 12% per annum of £100 (being the Preferred Dividend Reference Amount as defined in the Company's articles of association). The Board may vary the Preferred Dividend Rate within the parameters described in the prospectus published by the Company on 29 September 2026, and any change to the Preferred Dividend Rate will be announced via a Regulatory Information Service before the first record date to which it applies.
As at the date of this announcement, 111,112 of the 211,112 Preferred Shares in issue are entitled to receive the dividend (with no waiver of that entitlement having been received by the Company). The remaining 100,000 Preferred Shares are held by or on behalf of Tennyson Capital under the Company's at-the-market facility for the Preferred Shares (the "Preferred Shares ATM Facility"). Tennyson Capital has waived the right to receive any dividend that would be due to it as a holder of Preferred Shares, and accordingly such waiver will apply until those Preferred Shares are sold by or on behalf of Tennyson Capital. The Company will provide a further update on 22 October 2026 if any additional Preferred Shares have been sold pursuant to the Preferred Shares ATM Facility.
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