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


variouseateries@almapr.co.uk

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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