Issue of Options Update

RNS Number : 4119X

Various Eateries PLC

26 August 2022

 

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: [phone]
Broking Harry Ansell
Nominated Adviser Katy Mitchell
Alma PR	Financial PR		Tel: [phone]
David Ison			[e-mail]
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)	Price(s) Volume(s) 41.5p 250,000
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  

 

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