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VARIOUS EATERIES PLC
Related Party Transaction • Jan 18, 2022
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Related Party Transaction
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National Storage Mechanism | Additional information 
RNS Number : 7441Y
Various Eateries PLC
18 January 2022
VARIOUS EATERIES PLC
("Various Eateries" or "the Company"
and with its subsidiaries "the Group")
PDMR Trading
Issue of Options
Related Party Transaction
The Company confirms today that it has issued options over 990,440 shares to certain directors and PDMRs of the Company, the details of the options are set out below (the "New Options").
The New Options are being granted under the rules of the Company's new CSOP Share Scheme (with the balance being issued as regular options) to incentivize key employees; they each have an exercise price of 69.4p (being a 5 day VWAP of the Various Eateries share price at today's price) and vest equally 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.
This is with the exception of the issue of options to Tiffany Sword, a Non-Executive Director, whose options have an exercise price of 69.4p, being a 5 day VWAP of the Various Eateries share price at today's price but which vest immediately.
The details of the issue of New Options issued under this new Scheme are as follows:
| Name of PDMR | Number of new options | Exercise Price | Total options now held |
| Yishay Malkov (CEO) | 208,333 | 69.4p | 2,398,809* |
| Oli Williams (CFO) | 104,167 | 69.4p | 1,199,405** |
| Tiffany Sword (Non-Executive Director) | 300,000 | 69.4p | 300,000 |
| Matt Fanthorpe (Chef Director, non- board position) | 104,167 | 69.4p | 1,199,405*** |
| Raj Manek | 136,887 | 69.4p | 136,887 |
| Lizi Hill | 136,889 | 69.4p | 136,887 |
*includes JSOP options over 2,190,476 ordinary shares at an exercise price of 73p which can be realised from 31 August 2022 subject to certain other terms and conditions, as set out in the Company's Admission Document.
** includes JSOP options over 1,095,238 ordinary shares at an exercise price of 73p which can be realised from 31 August 2022 subject to certain other terms and conditions, as set out in the Company's Admission Document.
*** includes JSOP options over 1,095,238 ordinary shares at an exercise price of 73p which can be realised from 31 August 2022 subject to certain other terms and conditions, as set out in the Company's Admission Document.
Related Party Transaction
The issue of options to Yishay Malkov, Oli Williams and Tiffany Sword is deemed to be a related party transaction pursuant to AIM Rule 13 of the AIM Rule for Companies. The Company's directors (excluding Yishay Malkov, Oli Williams and Tiffany Sword, who are interested in this transaction) consider, having consulted with Various Eateries' Nominated Adviser, WH Ireland Limited, that the terms of the New Options are fair and reasonable insofar as the shareholders of the Company are concerned.
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
Yishay Malkov
2
Reason for the notification
a)
Position/status
CEO
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
213800SWZ6W3RNE32B76
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
GB00BM9BZK23
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 69.4p | 208,333 |
d)
Aggregated information
- Aggregated volume
- Price
208,333
69.4p
e)
Date of the transaction
17 January 2022
f)
Place of the transaction
London Stock Exchange (XLON)
1
Details of the person discharging managerial responsibilities
a)
Name
Oli Williams
2
Reason for the notification
a)
Position/status
CFO
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
213800SWZ6W3RNE32B76
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
GB00BM9BZK23
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 69.4p | 104,167 |
d)
Aggregated information
- Aggregated volume
- Price
104,167
69.4p
e)
Date of the transaction
17 January 2022
f)
Place of the transaction
London Stock Exchange (XLON)
1
Details of the person discharging managerial responsibilities
a)
Name
Tiffany Sword
2
Reason for the notification
a)
Position/status
Non-Executive 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
213800SWZ6W3RNE32B76
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
GB00BM9BZK23
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 69.4p | 300,000 |
d)
Aggregated information
- Aggregated volume
- Price
300,000
69.4p
e)
Date of the transaction
17 January 2022
f)
Place of the transaction
London Stock Exchange (XLON)
2
Details of the person discharging managerial responsibilities
a)
Name
Matt Fanthorpe
2
Reason for the notification
a)
Position/status
Chef 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
213800SWZ6W3RNE32B76
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
GB00BM9BZK23
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 69.4p | 104,167 |
d)
Aggregated information
- Aggregated volume
- Price
104,167
69.4p
e)
Date of the transaction
17 January 2022
f)
Place of the transaction
London Stock Exchange (XLON)
2
Details of the person discharging managerial responsibilities
a)
Name
Raj Manek
2
Reason for the notification
a)
Position/status
Property 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
213800SWZ6W3RNE32B76
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
GB00BM9BZK23
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 69.4p | 136,887 |
d)
Aggregated information
- Aggregated volume
- Price
136,887
69.4p
e)
Date of the transaction
17 January 2022
f)
Place of the transaction
London Stock Exchange (XLON)
2
Details of the person discharging managerial responsibilities
a)
Name
Lizi Hill
2
Reason for the notification
a)
Position/status
Head of Finance
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
213800SWZ6W3RNE32B76
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
GB00BM9BZK23
b)
Nature of the transaction
Issue of Options
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 69.4p | 136,887 |
d)
Aggregated information
- Aggregated volume
- Price
136,887
69.4p
e)
Date of the transaction
17 January 2022
f)
Place of the transaction
London Stock Exchange (XLON)
Enquiries
| Various Eateries plc | ||
| Andy Bassadone | Executive Chairman | Via Alma PR |
| Yishay Malkov | Chief Executive Officer | |
| Oli Williams | Chief Financial Officer | |
| WH Ireland Limited | Sole Broker and Nominated Adviser | Tel: +44 (0)20 7220 1666 |
| Broking Harry Ansell, Adam Pollock |
||
| Nomad Katy Mitchell, Megan Liddel |
||
| Alma PR | Financial PR | Tel: +44 (0)20 3405 0205 |
| David Ison | [email protected] | |
| Susie Hudson | ||
| Molly Gretton | ||
About Various Eateries
Various Eateries owns, develops and operates restaurant 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 two core brands across thirteen locations:
| · | 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 |
For more information visit www.variouseateries.co.uk
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