RNS Number : 7868C
Various Eateries PLC
25 February 2022
 

VARIOUS EATERIES PLC

("Various Eateries" or "the Company"

and with its subsidiaries "the Group")

 

Related Party Transaction

 

Further to the announcement of 10 January 2022, the Company confirms that on 24 February 2022 its wholly owned subsidiary, Various Eateries Trading Limited, entered into an agreement to reissue its second Deep Discounted Bond with Friends Provident International Limited ("FPI") ("New Deep Discounted Bond").

 

The principal purpose for issuing the New Deep Discounted Bond is to extend the redemption date from 15 April 2022 to 15 April 2023. 

 

The New Deep Discounted Bond has a subscription amount of £9,515,000 and the nominal value is £10,001,000 (being a discount that over the term is comparable to an annual interest rate of 5.08%)

 

Related Party Transaction

FPI operates on an execution only basis on the sole instruction of Hugh Osmond, a director and substantial shareholder of the Company. Accordingly, the issue of the New Deep Discounted Bond is deemed to be a related party transaction pursuant to AIM Rule 13 of the AIM Rule for Companies. The Company's directors (excluding Hugh Osmond, who is indirectly interested in this transaction) consider, having consulted with Various Eateries' Nominated Adviser, WH Ireland Limited, that the terms of the New Deep Discounted Bond are fair and reasonable insofar as the shareholders are concerned.

 

 

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



Nominated Adviser

Katy Mitchell






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 

 



 

 

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
 
 
MSCFZLLLLLLXBBQ