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: +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)

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  



 

 

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 or visit 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.
 
END
 
 
IOESEAFFMEESEFA
UK 100

Latest directors dealings