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Share Name Share Symbol Market Type Share ISIN Share Description
Amala Foods Plc LSE:DISH London Ordinary Share JE00BG12QT70 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.425 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 0.0 -4.1 0.0 - 2

Amala Foods PLC Issue of Equity

08/12/2021 7:00am

UK Regulatory (RNS & others)


Amala Foods (LSE:DISH)
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From Jul 2021 to Jul 2022

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TIDMDISH

RNS Number : 9063U

Amala Foods PLC

08 December 2021

Amala Foods Plc

( " Amala " or the " Company")

Funding Update

Amala Foods Plc (LON: DISH), a food technology company, is pleased to announce that it has raised GBP210,000 by way of Placing 70,000,000 shares at 0.3p with Align Research Ltd and a further GBP100,000 of loan financing due in November 2022 which has a fixed interest rate of 8% due on the maturity date.

The Company has a low cash-burn and the new funding will provide sufficient runway through to the end of June 2022. The Company is also pleased to announce that it has held discussions with its Joint Venture Partner in the plant-based food business who have expressed an interest in arranging further substantial funding for scaling up operations beyond June 2022 from sophisticated Asian investors.

The Company had previously announced the venture builder model that would seek a public listing. The Company will own a substantial stake in the venture builder and is currently in the early stages of preparing for a public listing with a target admission date in Spring 2022. The venture builder has a lead investor and expects to achieve a non-brokered listing. This venture builder is a tech business that originated from the BigDish technology platform and is developing innovative technology that has application in the Food and Beverage sector. The Company will update the market in due course with further detail as the listing process progresses.

Enquiries:

Jonathan Morley-Kirk, Non-Executive Chairman

jmk@bigdish.com

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END

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(END) Dow Jones Newswires

December 08, 2021 02:00 ET (07:00 GMT)

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