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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) 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.

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