Amala Foods Plc Regulatory News (DISH)

Amala Foods Plc

("BigDish" or the "Company")

Operational Update

Amala Foods Plc (LON: DISH), a food technology company, is pleased to announce an Operational Update.

Highlights:

• Joint Venure Company has been formed

• Product development goals remain on target

• New additions to the management team

• New website, eatAmala.com is under development

The Company announced previously on 22 March 2021 an update on the formation of a Joint Venture Company ("JVC"), Amala Foods Inc. The Securities and Exchange Commission (SEC) approved the formation on 27 May 2021. The Company owns a 70% stake in the JVC with Archie Rodriguez owning 30%. 

Mr Rodriguez has over 20 years' experience in the food and beverage industry in Asia and achieved a successful exit from a restaurant group that he founded that operated multi-brand master franchises for some of the world's largest casual dining brands.

The Company announced previously on 25 February 2021 the objectives over the initial six-month period. The Company is pleased to report that it remains on target to achieve those objectives that were announced, specifically the development of up to six commercially ready plant-based products.

Substantial progress has been made on product development; branding and packaging; and product distribution over the past few months despite having to navigate Covid-19 related restrictions and a second lockdown in Metro Manila and whilst waiting for the approval of the SEC.

New additions to the Management Team

Ron Lopez Davis recently joined the team as Director of Product Innovation. Ron is a classically trained Chef De Cuisine with over 20 years of restaurant and catering experience. He has worked in corporate and private catering at restaurants in New York City, San Francisco, Seattle and Palo Alto. Ron's experience includes working alongside renowned chefs such as Jacques Pepin, Jeremiah Tower, Hubert Keller, Gary Danko, and Thomas Keller.

Ignacio Ugarte has joined the team as Brand Manager. Mr Ugarte has over 20 years of advertising and branding experience. He has worked as creative director in several top agencies in San Francisco, Barcelona and founded his own branding agency in the Philippines which has helped local brands break into international markets as well as creating original concepts for restaurants and consumer products. He is also co-founder of a local travel and adventure magazine.

The plant-based food sector is growing exponentially within Asia and the Company believes that it is in the right place at the right time to capitalise on the opportunity. 

The Company is developing a new website, eatAmala.com. This is expected to be completed next month.

Enquiries:

Note to Editors:

The word Amala is derived from Sanskrit meaning "clean, pure".