Operational Update

RNS Number : 9632C

BigDish PLC

21 June 2019

 

21 June 2019

BigDish Plc

("BigDish" or the "Company")

Operational Update

BigDish Plc (LON:DISH), a food technology company that operates a yield management platform for restaurants, is pleased to announce it has received the funds from the placing as announced on 6 June 2019 and to provide an update on operations.

Funding

BigDish has received the £2.1 million from the placing, directly from the investor, a family office in California, USA.  As previously announced, the Company is fully funded to 2021.  This will transform BigDish from its current eight locations to being present all over the United Kingdom.

Expansion Update

New territories, Brighton and Reading will soon be going live on the BigDish platform.  The small delay to the schedule was due to the Company's focus on the recruitment strategy. The recruitment of new Territory Managers is progressing with one new territory manager for Territory 3 starting soon. The Company will spend July and August focusing on recruitment and account management in Territory 1 and Territory 2. BigDish expects to have all Territory Managers in place across the UK by 1 September 2019. Additionally, particular attention will be paid to expanding Brighton after it launches.  

The partnership with the tech platform is still expected to proceed, despite minor delays.

Sanj Naha, CEO commented:

"We are extremely pleased with the progress that is being made in expanding BigDish. We look forward to the coming months with the recruitment of our new Territory Managers and the new locations on the BigDish App.

"The new funding enables the acceleration across every part of the Company.  We are also planning an extremely exciting media initiative which we look forward to sharing more on in due course. The  platform, as it stands today, will be unrecognisable by 2021. We look forward to keeping the market informed over the coming months, the future looks bright."

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

Enquiries:

Blytheweigh	[phone]
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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