REG - Amala Foods PLC - Annual Financial Report 2021

Amala FoodsAnnouncement

02/12/2021 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211202:nRSB3506Ua&default-theme=true

RNS Number : 3506U  Amala Foods PLC  02 December 2021

 

Amala Foods Plc

("Amala" or the "Company")

 

2021 Annual Financial Report

 

Amala Foods Plc (LON: DISH), a food technology company, is pleased to announce
the publication of the 2021 Annual Financial Report for the Year Ended 31
March 2021 which can be downloaded at the following
link: http://www.rns-pdf.londonstockexchange.com/rns/3506U_1-2021-12-2.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3506U_1-2021-12-2.pdf)

The Annual Financial Report will shortly be available on the Company website
www.eatamala.com and will be uploaded to the National Storage Mechanism.

The Company will now make application to the FCA for the listing to be
restored.

Operational Update

The Joint Venture Company, Amala Foods Inc, has made substantial progress
since being formed earlier this year. The Company previously announced
completing the Research and Development stage for its plant-based products.
The Company has now purchased additional equipment and is able to commence the
roll out of its products as part of the initial commercial phase.

Amala has developed a bespoke plant-based pepperoni product for American pizza
chain, California Pizza Kitchen in the Philippines which is now being featured
on their menu. The Company hopes that this will be a success and will lead to
a wider roll out.

The Company is in the latter stages of negotiating supplying its plant-based
pepperoni to another pizza chain and its plant-based burger to the restaurants
of a well-known local chef.

As part of its business development activities the Company is negotiating with
a global restaurant group which if successful would set the Company on an
exponential growth trajectory in 2022.

The Company has also sponsored the plant-based trophy for the 25(th)
anniversary of a notable culinary school where contestants are using Amala's
plant-based pepperoni.

The Company currently operates on a very low cash burn and utilises a Salary
Sacrifice.

Management will be in California, USA during December meeting with various
restaurant groups who have expressed in an interest in Amala's products.

 

 

Enquiries:

 

Jonathan Morley-Kirk, Non-Executive Chairman

jmk@bigdish.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACSFSESWEEFSESE