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BigDish confirms funding position to Q3 2020

“We have sufficient funding runway in order to increase the pace of restaurant acquisition which is the key performance indicator for the year ahead," said new chief executive Tom Sumner.

BigDish PLC - BigDish confirms funding position to Q3 2020

BigDish PLC (LON:DISH) released its half yearly results statement which confirm that the food technology company has sufficient funding until the third quarter of 2020.

The company had £1.29mln of cash in the bank at the end of September.

BigDish noted that it has no headroom to issue new equity before July 2020 without publication of a prospectus, and, there are no plans to publish a prospectus.

READ: BigDish's new chief executive takes over

Recently appointed chief executive Tom Sumner struck a positive tone, stating: "Since joining BigDish on 2 December 2019 we have been able to streamline operations and reduce cash burn significantly in order to improve and be more effective as a business in 2020. 

“We have sufficient funding runway in order to increase the pace of restaurant acquisition which is the key performance indicator for the year ahead. 

“It is my expectation that 2020 will be a turnaround story for BigDish and our shareholders."

Quick facts: BigDish PLC

Price: 4.45 GBX

LSE:DISH
Market: LSE
Market Cap: £15.53 m
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