DP Poland plc holds the exclusive rights to develop and operate Domino’s Pizza stores in Poland, through its wholly owned subsidiary DP Polska SA.
Highlights:
A period of investment in infrastructure and rapid development of operational capabilities
6 stores now open, a further 6 leases signed for this year’s roll out and 2 already signed for 2012
On track to hit target of 12 store openings in 2011
Store quality high as evidenced by the international franchisor’s audit
Strong management team in place to handle aggressive store roll out
Higher than anticipated store fit out and central costs, but on-going cost improvements
Encouraging sales figures in September, following the seasonal impact of summer
Stores expected to reach sales maturity after 12 months’ trading
Peter Shaw, Chief Executive, said:
“We are on track with our roll out and are set to achieve our target of 12 stores by the end of this year. As we build towards critical mass and heightened brand awareness we will benefit from the cross marketing benefits that size brings. The rapid roll-out of stores in Warsaw this year and next is key to driving sales growth.”
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DP Poland is the owner of the exclusive rights to develop and operate Domino’s Pizza stores in Poland.
The development and roll out plan is to open 27 stores by the end of December 2012 in Warsaw.
£6.5m (before expenses) raised and the Company quoted on AIM in July 2010
Trading subsidiary in Poland established, core management team put in place and first eight store managers recruited
Commissary for first 25 stores set up
First store opened, on schedule, on 28 February 2011
Target to open 12 stores in Warsaw by end 2011 and a further 15 stores targeted for 2012
Loss before tax of £411k for the period to 31 December 2010 in line with the board’s expectations. Net cash balance of £5m at 31 December 2010
Peter Shaw, Chief Executive of DP Poland, said:
“We have made good progress in establishing the team and infrastructure for the development of the Company and are delighted to have opened our first store in Warsaw on time. We aim to offer the highest quality pizza of any delivered pizza in Warsaw and have an extensive marketing plan to ensure that the customer understands our proposition. We are on track to hit our stated expansion targets for 2011 and beyond.”
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The 2010 Annual Report is now available to download form here
17 March 2011
Enquiries:
c/o College Hill: 020 7457 2020DP Poland PLC
Peter Shaw, Chief Executive
020 7457 2020 College Hill
Matthew Smallwood
Justine Warren
020 7107 8000 Seymour Pierce
Jeremy Porter / Catherine Leftley – Corporate Finance
DP Poland is delighted to announce that its first Domino’s Pizza store will open its doors for business today, 28 February 2011.
The store is located in the affluent Mokotów district of Warsaw, an area south of the city centre, with a high density of apartments and a vibrant business district.
The store opening plan remains on track with a total of 12 Domino’s Pizza stores scheduled to be opened in Warsaw by the end of 2011 and a further 15 in 2012. A good number of store leaseholds and initial contracts have already been signed, and design and construction plans are well advanced.
The first 8 store managers recently returned from training at Domino’s Pizza in the USA. A commissary has been commissioned in Warsaw with an initial capacity to supply at least 25 Domino’s Pizza stores with fresh dough, ingredients and all other menu items.
Peter Shaw, Chief Executive of DP Poland, commented:
“This first store is world class and the quality of the pizzas is outstanding. We have now taken our first step in realising our vision to transform the pizza delivery market in Poland, Europe’s sixth largest economy. I would like to pay tribute to the incredible energy and professionalism of our team that has made this first store open on time and to budget.”
28 February 2011
Enquiries:
c/o College Hill: 020 7457 2020DP Poland PLC
Peter Shaw, Chief Executive
020 7457 2020 College Hill
Matthew Smallwood
Justine Warren
020 7107 8000 Seymour Pierce
Jeremy Porter / Catherine Leftley – Corporate Finance
David Banks / Jacqui Briscoe – Corporate Broking
Notes to editors
DP Poland is the owner of the exclusive rights to develop and operate Domino’s Pizza stores in Poland, through its wholly owned subsidiary DP Polska SA.
Confirmation of Board Appointments and Management Appointments at DP Polska S.A.
The Board is pleased to announce that the Company has made good progress in its first few months in the implementation of the business plan.
The first store in Warsaw is near to completion and on target for opening at the end of February 2011, with a number of other store leases signed up or in advanced stages of lease negotiation. DP Polska S.A., the Company’s wholly owned subsidiary through which the master franchise will be operated, has secured a number of high calibre personnel to join the team in Poland, including appointments in marketing, operations and HR. The first eight store managers have been hired ready for training in the US in the New Year.
Confirmation of Chairman and Chief Executive of DP Poland PLC
Following their interim appointments as Chairman and Chief Executive of DP Poland PLC respectively, the Board confirms the appointments of Nick Donaldson as Non-Executive Chairman and Peter Shaw as Chief Executive, with immediate effect.
Managing Director of DP Polska S.A.
The Board is also pleased to announce the appointment of Maciej Jania as Managing Director of DP Polska S.A. (“DPSA”). Maciej (39) was previously the Financial and Commercial Director of DPSA and has a strong commercial management background in large multi-site businesses. He joined DPSA from Samsung Electronics (Poland) where, since September 2007, he held a senior financial position. Prior to this, Maciej was a key member of the highly successful founding team at coffeeheaven international PLC.
The Board is also pleased to announce that Malgorzata Maruchin (37) will be joining the DPSA senior management team in early January 2011 as Chief Accountant. Malgorzata is joining DPSA from Nestlé Polska where she held the position of Senior Accountant, responsible for the daily management of the Nestlé Polska accounting team. Working alongside Maciej Jania, Malgorzata will be responsible for managing all of DPSA’s accounts functions. Prior to Nestlé Polska, Malgorzata was a tax and accounting specialist working with a range of accounting practices, including KMPG Accounting Services SP Zo.o.
DP Poland, the owner of the exclusive rights to develop and operate Domino’s Pizza stores in Poland, today announces the appointment of Maciej Jania as Chief Financial Officer of DP Polska S.A. (“DPSA”), the Polish operating entity through which the Group’s exclusive Domino’s Pizza master franchise will be operated.
Maciej Jania’s appointment is with effect from 20 September 2010.
Maciej (aged 38) has a strong commercial background in large multi-site businesses. He joins the Company from Samsung Electronics (Poland) where, since September 2007, he held a senior financial position and from June 2008 held a Commercial Proxy for that company.
Prior to this, he was a key member of the highly successful founding team at coffeeheaven international plc, based in Warsaw (alongside Richard Worthington and Peter Shaw) where he held a variety of senior financial roles including Group Financial Director (2004-2007), Financial Director for Poland (2001-2004) and Chief Accountant for Poland (2000-2001).
There is no additional information in relation to Maciej Jania’s current or prior directorships which requires notification.
Richard Worthington, Executive Chairman of DP Poland, commented:
“I am delighted to welcome Maciej to the DP Poland team. He brings significant corporate expertise as well as proven on-the-ground practical knowledge of how to build a market leading business from start up in Poland. His considerable financial and commercial experience in the development of multiple outlet branded businesses in Poland will be invaluable to the Group as we build our Domino’s franchise business. We all very much look forward to working with him again.”
DP Poland PLC, the owner of the exclusive rights to develop and operate Domino’s Pizza stores in Poland, announces that at 8am today its shares were admitted to trading on the AIM market of the London Stock Exchange.
Placing and admission statistics
Placing Price 50 pence
Gross proceeds raised by the Placing £6,5000,000
Number of Ordinary Shares in issues prior to the Placing 6,778,572*
Number of Placing Shares being issued pursuant to the Placing on behalf of the Company 13,000,000
Percentage of the Enlarged Share Capital represented by the Placing Shares 65.73%
Number of Ordinary Shares in issue immediately following Placing and Admission 19,778,572*
Market capitalisation of the Company following the Placing at the Placing price £9,889,286
Estimated new proceeds receivable by the Company pursuant to the Placing after expenses (excluding VAT) £5,720,000
International security identification number (ISIN)GB00B3Q74M51 AIM symbol/TIDM DPP
* Including 2,445,238 Ordinary Shares held by the trustees of the EBT for the purposes of the share incentive schemes.
Richard Worthington, Executive Chairman, said:
“The successful completion of our listing underlines the strength of the opportunity to develop a significant business in Poland with the Domino’s Pizza brand. We are delighted that institutional investors have chosen to again support the management team who were behind a similar business in Poland, where it grew to a market leading position and subsequently realising significant shareholder value though a trade sale.
“We now have the capital required to launch Domino’s Pizza in Poland and to capitalise on that opportunity.”
Background to DP Poland plc
DP Poland (AIM symbol to be DPP) is a newly established company which has secured the exclusive master franchise for Domino’s Pizza in Poland
Domino’s Pizza is the world’s leading pizza delivery brand. The brand has global appeal with 9,000 outlets in 60 countries as diverse as the UK, Mexico, India, USA and France
The master franchise has been secured by a management team including Richard Worthington and Peter Shaw, who have a proven track record in Poland having been part of the core team that developed coffeeheaven international into a leading coffee bar brand in Poland with a 23% market share of the Polish coffee bar market, before the business was sold to Costa Coffee Ltd for £36 million (February 2010)
Following detailed market research, the Directors believe there is a significant opportunity for Domino’s Pizza to lead the home delivery pizza market in Poland, a country with a population 2/3rds the size of the UK, and raise the standards of a fragmented and un-focussed home delivery pizza service by developing a high quality pizza delivery offering with superior quality product and industry leading customer service, synonymous with the Domino’s Pizza brand ethos
Importantly, DP Poland will include on their menu pizzas which are tailored to its local market eg. using traditional Polish sausage, regional cheeses and local vegetables and more broadly the general offerings will be tailored to the Polish market leveraging the management’s significant local experience in the food and drink business
The management aim to roll out 50+ Domino’s Pizza stores in 4-5 years, predominantly in Warsaw. A wider national roll out and sub-franchising will be considered later in the development programme.
The Company confirms that it has completed the anticipated grant of awards to the non-executive Directors under the DP Poland plc Share Incentive Plan as follows:
Rob Morrish 50,000 shares
Nick Donaldson 50,000 shares
The nil cost awards are subject to a two year vesting period and will be satisfied by shares already held in the Employee Benefit Trust.
The Company was also notified today that Stancroft Trust Ltd has an interest in 800,000 ordinary shares in the Company representing approximately 4.04 per cent. of the issued ordinary share capital of DP Poland plc.
First dealings on AIM scheduled for 8am on 28 July 2010
“We now have a terrific opportunity to build a successful Domino’s Pizza business in Poland….
Dealings in shares of DP Poland PLC, the owner of the exclusive rights to develop and operate Domino’s Pizza stores in Poland, are expected to start at 8am tomorrow, 28 July 2010.
DP Poland PLC has raised £6.5 million through a placing of 13,000,000 shares, before expenses, to commence the roll out of 50+ Domino’s Pizza stores over the next four to five years, predominantly in Warsaw
A total of 19,778,572 ordinary shares will be in issue on Admission
The placing price is 50p per share
The market capitalisation at 50p per share is £9.9 million
The AIM symbol/TIDM will be DPP
Seymour Pierce acted as Nominated Adviser and Broker to the IPO
Richard Worthington, Executive Chairman, said:
“We now have a terrific opportunity to build a successful Domino’s Pizza business in Poland. We are very pleased with the support given to our proposition, particularly by institutional investors, which has enabled us to raise £6.5 million to launch the first phase of this exciting opportunity.”
