VARIOUS EATERIES PLC
("Various Eateries" or "the Company"
and with its subsidiaries "the Group")
Issue of Options
Update
Options
Various Eateries announces that it has issued options over 250,000 Ordinary Shares to Paul van Zijl, Operations Director of the Company (a non-board position) and a PDMR of Company (the "New Options"). The New Options have been issued as part of his remuneration package with the Company.
72,289 of the New Options are granted under the rules of the Company's CSOP Share Scheme (with the balance being issued as unapproved options); all the New Options have an exercise price of 41.5p and vest in three equal tranches over three years with the first vesting date being the first anniversary of the date of grant; they remain, however, conditional on the continued employment of the recipient at the date of vesting.
Loan Extension
The Company also wishes to announce that it has extended its loan with its Chairman, Andy Bassadone (the "Loan"). The unsecured Loan of £392,336.77 was entered into by Various Eateries Trading Limited in August 2019 and was due to expire in August 2022. It has been extended so that it will now expire on 15 April 2023. The loan is provided by Andy Bassadone's company Anella Limited. All other terms and conditions of the Loan remain as originally drafted (including the interest rate which was 3.75% above LIBOR (now SONIA).
For further information please contact:
| Various Eateries plc | | | ||
| Andy Bassadone | Executive Chairman | Via Alma PR | ||
| Yishay Malkov | Chief Executive Officer | | ||
| Oli Williams | Chief Financial Officer | | ||
| | | | ||
| WH Ireland Limited | Broker and Nominated Adviser | Tel: +44 (0)20 7220 1666 | ||
| Broking Harry Ansell | | | ||
| Nominated Adviser Katy Mitchell | | | ||
| | | | ||
| Alma PR | Financial PR | Tel: +44 (0)20 3405 0205 | ||
| David Ison | | variouseateries@almapr.co.uk | ||
| Lily Soares Smith | | | ||
| Pippa Crabtree | | | ||
| | |
| ||
The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities | |||||||
| a) | Name | Paul Van Zijl | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | Operations Director | ||||||
| b) | Initial notification/amendment | Initial notification | ||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Various Eateries plc | ||||||
| b) | LEI | 21300SWZ6W3RNE32B76 | ||||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1 pence each
GB000B9BZK23 | ||||||
| b) | Nature of the transaction | Issue of Share Options
| ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
250,000 41.5p
| ||||||
| e) | Date of the transaction | 25/08/2022 | ||||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||||
About Various Eateries
Various Eateries owns, develops and operates restaurant, clubhouse and hotel sites in the United Kingdom. The Group's stated mission is "great people delivering unique experiences through continuous innovation".
The Group is led by a highly experienced senior team including Andy Bassadone (Executive Chairman), Hugh Osmond (Founder), Yishay Malkov (CEO), Oliver Williams (CFO) and Matt Fanthorpe (Chef Director, a non-board position).
The Group operates across 15 locations with three core brands:
| · | Coppa Club, a multi-use, all day concept that combines restaurant, terrace, café, lounge, bar and work spaces |
| · | Tavolino, a restaurant aiming to address a gap in the market for high-quality Italian food at mid-market prices |
| · | Noci, a modern, neighbourhood pasta-only concept which serves very high-quality dishes at reasonable prices |
For more information visit www.variouseateries.co.uk
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.
