Appointment of Chief Financial Officer
VARIOUS EATERIES PLC
("Various Eateries" or "the Company"
and with its subsidiaries "the Group")
Appointment of Chief Financial Officer
Board Changes
Various Eateries PLC, the owner, developer and operator of all day club, restaurant and hotel sites in the United Kingdom , is pleased to announce that it will appoint Sharon Badelek to the Board of the Company as Chief Financial Officer ("CFO"), with effect from 1 April 2023.
In a career spanning more than 30 years, Sharon has held financial leadership positions at several high-profile leisure and hospitality businesses, including most recently the position of CFO of RedCat Pub Company ("RedCat"), an investment vehicle established in January 2021 to acquire freehold pubs. At RedCat, Sharon was instrumental in acquiring 110 pubs in a 12-month period.
Earlier in her career, Sharon was UK Finance Director and later Group Finance Director at Vue Entertainment. As part of the original executive team, Sharon played a leading role in several major acquisitions, with the rollout leading to an increase in EBITDA from £31 million to £110 million. After nine years at the business, Sharon was influential in selling the business for £950 million.
Sharon has also fulfilled the roles of CFO of Inspired Villages Group, a retirement village developer and operator; CFO and later CEO of Novus Leisure Limited, a London pub and nightclub operator; CFO of Westpoint Veterinary Group; Financial Controller and later Group Financial Controller at Holmes Place Health Clubs and Group Chief Accountant at Carlton Communications Plc. Sharon has been ACCA qualified since 1996.
Sharon will replace James Darwent, who has acted as CFO on an interim basis since 11 November 2022, and is an executive director of the Board. James will continue in his position as Interim CFO but will step down from the role, and as a director of the Company with effect from 1 April 2023.
Andy Bassadone, Executive Chairman of Various Eateries, said:
"Sharon has an impressive track record in scaling customer-centric businesses in our industry and I have no doubt the knowledge and experience she has built over several decades of good and bad markets will be of great benefit to Various Eateries as we pursue our growth ambitions. Sharon was the outstanding candidate for the role, and I am delighted to welcome her to the team.
"At the same time, I would like to thank James Darwent for the important role he has played at the Company over the past few months. He slotted in seamlessly at a crucial time for the business and, on behalf of the Board and everyone at Various Eateries, I wish him all the best."
Sharon Badelek, incoming CFO, said:
"With strong brands that resonate with the modern consumer, a highly experienced senior team and a clear strategy for expansion, Various Eateries has an exciting opportunity to grow into a leading name in UK hospitality. I look forward to working closely with Andy, Hugh and Yishay to help the Company fulfil its potential and create value for all stakeholders."
The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies.
Sharon Michelle Badelek, aged 53, holds, or has during the last five years held, the following directorships and partnerships:
Current Directorships/Partnerships
Marley Consulting Services Limited
Past Directorships/Partnerships (in the last 5 years)
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A3D2 Limited |
Pie & Pint Pub Company |
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Austin Heath Management Ltd |
RedCat Debt Company Limited |
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Bramshott Place Management Limited |
RedCat Inns Limited |
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Cozy Pubs Limiteed |
RedCat Leased Pubs Limited |
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Durrants Management Limited |
RedCat PropCo Limited |
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Gifford Lea Management Ltd |
RedCat Pub Company Limited |
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Great Alne Park Management Limited |
RedCat Pub Company Services Limited |
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Inspired Villages Group |
RedCat Pub Hotels Limited |
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Inspired Villages Group Limited |
RedCat Pub Hotels Warwick Limited |
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J. and J. Smith (Hotels) Limited |
RedCat Retail Pubs Limited |
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Little Britain Pub Company Ltd. |
RedCat SubCo Limited |
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Millbrook Village Management Limited |
RedCat Taverns Limited |
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Novus Leisure Group |
Renaissance Villages Limited |
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Novus Leisure Limited |
The Bull Inn - Barton Mills Ltd |
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Pastures Leisure Limited |
The Coaching Inn Group Ltd |
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Pie & Pint Inns (The Castle) Limited |
The Manor Hotel (Dorset) Limited |
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Pie & Pint Inns (The Cherry Tree) Limited |
Zoo Bar Limited |
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Pie & Pint Inns Limited |
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Sharon Badelek does not hold any ordinary shares in Various Eateries PLC however, as part of her remuneration package, Sharon will be granted options over ordinary shares ("Options"). The precise number of options can only be calculated at the date of grant when the option exercise price is able to be calculated. The exercise price of the Options will be the average mid-market share price for the 5 dealing days prior to grant ("Exercise Price"). The number of options to be granted will be calculated by dividing £180,000 by the Exercise Price and, once granted, the Options will vest over a three-year period.
The Company will provide further details on the Options once they have been granted to Sharon upon her official appointment.
There is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
Enquiries
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Various Eateries plc |
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Andy Bassadone |
Executive Chairman |
Via Alma PR |
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Yishay Malkov |
Chief Executive Officer |
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James Darwent |
Interim Chief Financial Officer |
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WH Ireland Limited |
Broker and Nominated Adviser |
Tel: +44 (0)20 7220 1666 |
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Broking Harry Ansell |
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Nominated Adviser Katy Mitchell / Megan Liddell |
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Alma PR |
Financial PR |
Tel: +44 (0)20 3405 0205 |
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David Ison |
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variouseateries@almapr.co.uk |
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Pippa Crabtree |
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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) and Matt Fanthorpe (Chef Director, a non-board position).
The Group operates three core brands across 15 locations:
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· Coppa Club, a multi-use, all day concept that combines restaurant, terrace, café, lounge, bar and work spaces |
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· Tavolino, a restaurant aiming to address a gap in the market for high-quality Italian food at mid-market prices |
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· 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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