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BigDish #DISH – 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:
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Zak Mir, Digital Communications Officer, BigDish |
+44 (0) 7867 527658 |
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zak@bigdish.com |
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Jonathan Morley-Kirk, Non-Executive Chairman |
+44 (0) 7797 859986 |
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jmk@bigdish.com |
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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.
BigDish (DISH) To Integrate With Leading Point Of Sale Technology Group, NFS Technology Group
BigDish Plc (LON: DISH), is pleased to announce that it has reached an Agreement with NFS Technology Group to integrate BigDish within its Point of Sale (POS) software solution for restaurants.
NFS Technology Group (“NFS”) have been operating for over 20 years and has over 1,500 clients. Integrating with a POS has two significant benefits for a restaurant. Firstly, it will enable the operational team of a restaurant to access the BigDish Manager features directly within the POS. In addition, it enables a restaurant to link BigDish dining activity data with diner spend data thus providing valuable marketing insights to the restaurant. The integration will enable restaurant groups to more effectively roll out BigDish.
Luis Desouza, CEO of NFS Technology Group commented “NFS are excited to be engaged with BigDish, who bring a fresh and cost-effective approach to restaurants seeking to offer promotions that best match the time slots that are not busy. A great tool in current market conditions.”
Sanj Naha, CEO commented:
“BigDish is firstly and foremost a technology company and I am delighted that our first Point of Sale integration is with NFS Technology Group, who are highly regarded within the industry. We will be meeting with the NFS team this month to plan the implementation of the integration. Restaurant groups in particular will be pleased with this initiative as it will enable more centralized management of BigDish within a particular restaurant group.”
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
zak@bigdish.com |
| Jonathan Morley-Kirk, Non-Executive Chairman | +44 (0) 7797 859986
jmk@bigdish.com |
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 updates on new territory launches ahead of busy fourth quarter
BigDish PLC’s (LON:DISH) Sanj Naha tells Proactive London’s Andrew Scott it’s been a busy time for them with new people joining and new locations launched.
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 Signs Exclusive Partnership With Oceanic Media
BigDish Plc (LON: DISH), a food technology company that operates a yield management platform for restaurants, is pleased to announce today it has signed an exclusive partnership with Oceanic Media Ltd.
Oceanic Media has hosted Restaurant Awards across the United Kingdom since 2007 and will host sixteen national and regional awards from September 2019 to August 2020. Oceanic will promote BigDish via various marketing channels to over 3,500 restaurants across the United Kingdom that receive nominations and to the thousands of people that nominate restaurants for awards. BigDish will also receive introductions to finalists during the period leading up to each event which is expected to increase restaurant acquisition. BigDish will also be the exclusive restaurant booking platform sponsor at each event. The sixteen events are outlined below:
The Restaurant Awards England – September 2019 (Midlands)
Pub Awards Scotland – September 2019 (Glasgow)
London Asian Food Awards – October 2019 (London)
Food Awards England – October 2019 (Manchester)
Welsh Asian Food Awards – November 2019 (Cardiff)
Scottish Asian Food Awards – November 2019 (Glasgow)
Restaurant Awards Wales – November 2019 (Cardiff)
English Asian Food Awards – February 2020 (Manchester)
Food Awards Northern Irelands – March 2020 (Belfast)
Welsh Pub Awards – March 2020 (Cardiff)
Scottish Curry Awards – April 2020 (Glasgow)
Restaurant Awards Scotland – April 2020 (Glasgow)
Food Awards Wales – May 2020 (Cardiff)
London Curry Awards – May 2020 (London)
English Curry Awards – August 2020 (Birmingham)
Food Awards Scotland – August 2020 (Glasgow)
The majority of restaurants that receive nominations are independent restaurants. This further supports BigDish’s current strategy of initially targeting independent restaurants before targeting chain restaurants.
Sanj Naha, CEO commented: “The partnership with Oceanic Media will support our national rollout with the introduction of thousands of great restaurants across the country to BigDish. This will raise the profile of BigDish across the restaurant industry throughout the United Kingdom, which will in turn assist new incoming Territory Managers. I fully expect that this partnership will significantly increase the pace of restaurant adoption from September onwards across the United Kingdom.
“The summer is a busy period for BigDish with the focus on recruitment both in the United Kingdom and in Manila. I will be travelling to Asia next month to strategize with the team on key functions such as product development and customer support.
“After having been an integral part of building two restaurant booking platforms in my previous roles, it is important that shareholders gain a sense of the bigger picture of the journey that we are on. I would like to repeat what I previously stated, that ‘the platform, as it stands today, will be unrecognisable by 2021’.
“The other piece of exciting news is that we will shortly see our first restaurant group trial BigDish. Group restaurants typically start with a single location trial with a view to progressing to the pilot project phase followed by a full rollout should the pilot phase be successful. I have extensive experience with group restaurants and expect to see significant numbers join our platform in due course. This rollout will also in turn be accelerated by the Territory Managers. It is by design that we have started with independent restaurants in order to have a variety of cuisines and restaurants.”
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.
END
Doc Holiday and TMS talk to chairman and founder of BigDish #DISH Aiden Bishop
After a whole bunch of speculation, in addition to spurious reports and opinion TMS reached out and caught up with Chairman and founder of Big Dish Aiden Bishop, the company has seen an exponential transition in both it’s business and share price.
We decided to learn more about the day to day business but more so the aggressive expansion of the company after it appointed Sanj Naha formerly of trip advisor as it’s chief executive officer, you can hear more by tuning in below!
Listen to the interview below:
https://total-market-solutions.com/2019/06/24/big-dish-serves-up-more-business/
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 |
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Tim Blythe Julia Tilley
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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.