Update re senior management & corporate governance

RNS Number : 4293W

BigDish PLC

11 December 2019

 

11 December 2019

BigDish Plc

("BigDish" or the "Company")

Update re senior management and corporate governance

BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants, is pleased to announce that Tom Sumner commenced his employment on 2 December 2019 as the Chief Executive Officer of the Company, based in its Manchester office.

Sanj Naha, the Company's former CEO has entered into a consultancy agreement with the Company where he will advise on the acquisition of restaurant groups and technology integrations with Electronic Point of Sale (ePOS) companies and other third party restaurant technology platforms.

Further, the Company notes press comment on its notification on 30 May 2019 where it stated that "The Company is funded to execute its strategy."

The Company acknowledges that this statement may have been interpreted to suggest it had sufficient funds to fully execute (i.e. complete) its strategy.  The additional funds received by the Company on 6 June 2019 provided the Company with funds to accelerate the implementation of its strategy.  The board acknowledges that the notification on 30 May 2019 should have been clearer and, with the benefit of hindsight, would have been better to have omitted the phrase altogether.

Furthermore, the Company recognises the importance to adopt a high standard of corporate governance. It has therefore commissioned a review of its corporate governance processes and procedures.  The Company intends to adopt an appropriate and recognised corporate governance code and make detailed disclosure on its website as to how it conforms with such a code. The Company believes it will benefit from having an Independent Non-Executive Director as part of the Board and is currently in discussions with its advisers regarding suitable candidates.

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	[phone]
	[e-mail]
Jonathan Morley-Kirk, Non-Executive Chairman	[phone]
	[e-mail]

Notes to Editors

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

Yield Management is a dynamic pricing strategy based on understanding and influencing human behaviour in order to maximise revenue from a fixed, time limited resource.  Yield Management has been very effective for selling airline seats and hotel rooms.  BigDish believes that Yield Management can benefit restaurants to optimize revenue by bringing diners to empty tables.

BigDish is a free consumer product.  Consumers can book a table with a discount via the BigDish App or website.  Restaurants pay BigDish a fixed fee per diner seated.

 

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