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BigDish (DISH) Issue of Equity & Warrants

BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants, announces an issue of equity and warrants in relation to the acquisition of Pouncer Media Limited (“Pouncer”) as part of the Company’s admission to the Official List and the Standard segment of the Main Market of the London Stock Exchange in August 2018.

Issue of Equity

At admission in August 2018, the Company issued 11,111,111 ordinary shares and a grant of warrants over 11,111,111 shares at a price of 9 pence per ordinary shares to Pouncer which expire on the second anniversary of admission.

The Company has now issued today 13,812,920 ordinary shares to certain Pouncer shareholders as part of the acquisition agreement. Application has been made for 13,812,920 new ordinary shares to be admitted to trading which is expected to occur on or around 27 August 2019 (“Admission”).

This now completes the Company’s obligations to Pouncer.

Grant of Warrants

The Company has also issued a grant of warrants over 6,851,116ordinary shares at a price of 4.156 pence per ordinary share to certain Pouncer shareholders. The warrants expire on 2 February 2021.

Total Voting Rights

Following Admission, the Company’s enlarged issued share capital will be 351,875,208. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (“MAR”)

Enquiries:

Zak Mir, Digital Communications Officer,

BigDish Plc

+44 (0) 7867 527658

 

Notes to Editors

BigDish Plc is a London Stock Exchange listed food technology company that operates a yield management platform for the restaurant industry, including a mobile App.

The Company helps restaurants in the UK fill their spare capacity and optimise their revenues through smart and dynamic discounts. Consumers can access these via the BigDish App and website platforms. Restaurants pay BigDish a fee per diner seated.

BigDish is fully committed to delivering shareholder value to its stakeholders through this model and is actively seeking to expand across the UK. An expansion strategy has been outlined which divides the UK into territorial target areas.

BigDish (DISH) begins nationwide expansion as recruitment drive ‘exceeds expectations’

BigDish PLC’s (LON:DISH) Sanj Naha tells Proactive London’s Andrew Scott the response to their recruitment campaign for territory managers has exceeded expectations.

BigDish (DISH) Annual Report & UK Rollout Recruitment Update

BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants, is pleased to announce the publication of its annual report for the period ending 31 March 2019. The Report will be available on the Company’s website https://bigdishplc.com/category/reports-and-accounts/ and will also be available to view on Morningstar http://www.morningstar.co.uk/uk/.

BigDish announced its UK launch on 16 January 2019 in Bournemouth.  Sanj Naha was appointed as CEO in mid-February 2019, as laid out in an announcement on 30 January 2019.

Recruitment Update for the UK Rollout

The Company has been very pleased with the recruitment campaign to support the UK Rollout.  As announced on 30 May 2019, BigDish has divided the United Kingdom into 10 Territories. Each Territory will have a Territory Manager whilst London will have three Territory Managers.

At present a total of 10 Territory Managers have been recruited (including the current two Managers).  The remaining two positions are expected to be filled within the next couple of weeks. All three Territory Managers have been recruited for London.    

Sanj Naha, CEO commented:

“The response to our recruitment campaign has exceeded expectations.  We have a great team of new recruits joining BigDish, including OpenTable’s former highest achieving sales person for the UK and Europe.  This will result in BigDish expanding its footprint across the United Kingdom. Everything up until this point has been foundation building and now the work of expansion begins across the country. So far in 2019, BigDish has been setting out the key milestones for its journey. Going forward the newsflow is likely to consist of reporting on these milestones being achieved in territories added, restaurant acquisition and enhancements of our dynamic pricing technology.” 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (“MAR”)

 

Enquiries:

Zak Mir, Digital Communications Officer +44 (0) 7867 527659

Notes to Editors

BigDish Plc is a London Stock Exchange listed food technology company that operates a yield management platform for the restaurant industry, including a mobile App.

The Company helps restaurants in the UK fill their spare capacity and optimise their revenues through smart and dynamic discounts. Consumers can access these via the BigDish App and website platforms. Restaurants pay BigDish a fee per diner seated.

BigDish is fully committed to delivering shareholder value to its stakeholders through this model and is actively seeking to expand across the UK. An expansion strategy has been outlined which divides the UK into territorial target areas.  

BigDish #DISH Business and Operational Update

BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants, is pleased to announce a business and operational update.

Highlights:

·    Brighton to launch next week

·    Launch of Brand Ambassador Program

·    Issuance of salary sacrifice and debt conversion shares

·    Board composition changes

Operational Update

Further to the announcement on 21 June, BigDish is pleased to announce that Brighton will be launched on its platform next week.  The Company believes that Brighton is a significant location for BigDish and upon launch expects to increase the restaurant numbers quickly.  The Company aims to have all Territory Managers in place across the United Kingdom, subject to finding suitable candidates, by early September.  This is currently the key focus.

As announced on 21 June, BigDish expects to enter into a partnership with a UK technology platform after Brighton goes live and expects to provide further detail in due course.

Over the past month, the Territory Managers in Territory 1 and 2 have been meeting with existing restaurant partners with a view to ensuring that operations are running smoothly and determining where improvements can be made.  The Company believes it is important that all systems and processes are running smoothly and that these are scalable as the national rollout progresses.  This focus on account management rather than new restaurant acquisition will balance out in due course.  As such, Reading will now be launched at a later date.

There are three core components to the BigDish strategy:

1.    Restaurant Partner Acquisition;

2.    Technology Development;

3.    User Acquisition.

The recruitment process that is taking place, both in the United Kingdom and in Manila, ensures that the first two components can be delivered.  The Company believes that once a national footprint is achieved, alongside new functionality and features in the App, the pace of user acquisition will increase significantly across the country.

A separate restaurant partner website is being developed that will enable restaurants to on-board themselves to the BigDish platform.  In addition, a blog will be launched which will have engaging content with a view to create a vibrant community of food lovers across the United Kingdom.  This will also increase the visibility of BigDish across various online search engines. Further detail will be provided as the development of these new platforms progresses.

Brand Ambassador Program

To further support User Acquisition, BigDish is pleased to announce the launch of its Brand Ambassador Program.  Following discussions with celebrities and well-known personalities over recent months, the Company expects to announce the first Brand Ambassador in due course.  The role of Brand Ambassadors will be to act as Influencers in order to increase user acquisition and customer engagement.  This is expected to be achieved through social media, video advertisements and attending key events.

Brand Ambassadors will be remunerated in shares rather than cash and any shares will have a restricted period from being able to sell.   As such, the Company has issued 12,000,000 shares that are ring fenced for the Brand Ambassador Program.  The Company expects to sign up several Brand Ambassadors and to launch various media initiatives from the fourth quarter of this year onwards as BigDish increases its national footprint.

Board Shuffle

Jonathan Morley-Kirk will move from Non-Executive Director to Non-Executive Chairman and Aidan Bishop, BigDish Founder, will move from Executive Chairman to Executive Director.  This will enable Jonathan Morley-Kirk to have greater oversight of various regulatory and compliance work and enable the Company to make improvements in this important part of the business.

In the announcement of 21 June 2019, Sanj Naha commented regarding a “media initiative”.  The Company expects to update the market several times during the month of July including further detail regarding the “media initiative”.

The Company also has issued 11,044,697 shares as part of its Salary Sacrifice Scheme and the conversion of debt into shares.  All members of the Board of Directors and some management have opted to receive no remuneration in cash since the IPO in August 2018. This is due to having confidence in the future of the Company and to ensure the interests of the Board and management are completely aligned with shareholders.

It is expected that the new shares will be admitted to trading around 4 July 2019 (“Admission”).  Following Admission, the Company’s enlarged issued share capital will be 338,558,883.

Sanj Naha, CEO commented:

“It has been a very busy period for BigDish with the recruitment strategy.  Having all Territory Managers in place across the United Kingdom by September would drive our growth, as well as having additional developers and restaurant and customer support personnel in Manila.

“Having worked previously at booking platforms such as TripAdvisor and Bookatable, I am aware of the importance of ensuring that every part of the business is built for scale.  The recent focus on account management in our first two territories is very healthy for us at this stage.  The summer period enables us to put our heads down and work hard on the ‘non visible’ aspects of the business. From September onwards, I expect BigDish to be firing on all cylinders across the whole country.

“I have also been particularly pleased with ongoing interest in BigDish from restaurant groups.  I am confident that we will see restaurant groups on the BigDish platform in due course.  It has been a deliberate strategy to date to only approach independent restaurants and small groups.  This has been done to ensure that the platform has a good selection of cuisines and restaurants and is not dominated by one particular brand.

“The launch of our Brand Ambassador Program is a fantastic milestone for the Company.  I believe that this will significantly boost our User Acquisition strategy as well as bringing national awareness of BigDish both to the general public and to the restaurant sector.  It is also great to see Brand Ambassadors becoming aligned with the vision of the Company by becoming long term shareholders.”

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (“MAR”)

 

Enquiries:

Zak Mir, Digital Communications Officer

+44 (0) 7867 527658

Notes to Editors

BigDish Plc is a London Stock Exchange listed food technology company that operates a yield management platform for the restaurant industry, including a mobile App.

The Company helps restaurants in the UK fill their spare capacity and optimise their revenues through smart and dynamic discounts. Consumers can access these via the BigDish App and website platforms. Restaurants pay BigDish a fee per diner seated.

BigDish is fully committed to delivering shareholder value to its stakeholders through this model and is actively seeking to expand across the UK. An expansion strategy has been outlined which divides the UK into territorial target areas.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

BigDish (DISH) Raise £2.1 Million Through Institutional Placing

BigDish Plc (LON:DISH), a food technology company that operates a yield management platform for restaurants, is pleased to announce that it has raised, in aggregate, £2.1 million through a placing of, in aggregate, 29,166,667 new common shares (the “Common Shares) of no par value in the capital of the Company (together, the “Issue shares) at a price of 7.2 pence per Common Share (the “Issue Price”) via an institutional placing.

Highlights:

·    Fully funded until 2021

·    Acceleration of the UK rollout

·    Acceleration of customer acquisition

·    Acceleration of new production development

Further to the announcement on 30 May 2019, BigDish was approached by an institution to provide an offer of significant expansion capital.  Whilst already being funded to execute its current strategy, the Company felt that this additional capital could further accelerate BigDish’s growth beyond this.

The additional capital will enable BigDish to accelerate the development of new features and functionality across all the BigDish platforms, as well as enable the development of further revenue streams.  It will also accelerate the UK rollout and, through increased marketing spend, help increase the rate of user acquisition.  All key metrics within BigDish are growing, such as the number of restaurants, bookings and diners seated.  This is now expected to increase at a more rapid pace.

Following the Admission of the new shares, the total issued share capital of the Company will be 315,014,186 Common Shares.

Sanj Naha, CEO, commented:

“It is truly an exciting time for BigDish and to have now gained the confidence of an institutional fund is fantastic.  BigDish is now entering the hypergrowth phase and the additional capital enables us to achieve our goals for the UK rollout, customer acquisition and positive cashflow.

“Over the past few weeks I have travelled to various parts of the UK, laying the foundations for the BigDish national expansion.  The BigDish yield management value proposition is being well received by the restaurants and restaurants groups that I am meeting with.  Furthermore, I am having positive discussions with various media groups and other potential partners.

“I have also spent time visiting some of our existing restaurant partners and it has been great to meet restaurant owners who are now regularly seeing diners seated at their restaurant via BigDish. One particular restaurant recorded over 600 diners in April, which was a BigDish record.”

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 (“MAR”)

Enquiries:

Blytheweigh

+44 (0) 20 7138 3204

Tim Blythe

Julia Tilley

Notes to Editors

BigDish Plc is a London Stock Exchange listed food technology company that operates a yield management platform for the restaurant industry, including a mobile App.

The Company helps restaurants in the UK fill their spare capacity and optimise their revenues through smart and dynamic discounts. Consumers can access these via the BigDish App and website platforms. Restaurants pay BigDish a fee per diner seated.

BigDish is fully committed to delivering shareholder value to its stakeholders through this model and is actively seeking to expand across the UK. An expansion strategy has been outlined which divides the UK into territorial target areas.

The Tray Now Standing on Platform BigDish #DISH could Head for Brighter Prospects – ShareProphets

by Malcolm Stacey

Hello Share Munchers. Now here’s a novel idea for the technological age. You’ve heard of Late Rooms which began as a way of filling empty hotels at the last minute. Well, BigDish (DISH) aims to perform similarly for restaurants. The company helps to fill tables at quiet times by offering quickly applied discounts.

Folks can get these bargain meals through the BigDish app or its website platforms. In return, the restaurants pay a fee for every customer. The share rose by 17% this week. This was on the news that a new BigDish platform has gone live in Swindon. Reading has also been added as a new location. Then BigDish comes to Taunton in a few days time. Winchester is also on the list. You may have noticed that most of these towns are within commuter distance of London. Earlier this month, it launched in Basingstoke and Exeter. Brighton will come soon. In fact, the company plans to expand throughout the UK.

So we could be looking at an early opportunity to take part is something which becomes really tasty. Though we shouldn’t perhaps get too carried away as all good ideas attract competition. And it could be from a firm with more expansion money.

Nevertheless, BigDish has a good idea here. And it should help overcome the trials that mid-range restaurants are said to be going through at the moment (like Jamie Oliver’s). In fact, the more restaurants struggle to put bums on seats, the more BigDish could flourish.

The share price has shot up since mid-April, but as expansion continues in what seem to me like wealthier southern areas, it’s possible that the share price will climb on each new location. After all, it doesn’t require too much dosh to keep adding locations. It’s not like buying a new lorry every week.

And now let’s rejoin the Punter’s Return.

Link to the full ShareProphets article here

 

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