REG - Various Eateries PLC - Appointment of Chief Financial Officer

Various EateriesAnnouncement

09/02/2023 07:00

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RNS Number : 3765P  Various Eateries PLC  09 February 2023

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)

 A3D2 Limited                                   Pie & Pint Pub Company
 Austin Heath Management Ltd                    RedCat Debt Company Limited
 Bramshott Place Management Limited             RedCat Inns Limited
 Cozy Pubs Limiteed                             RedCat Leased Pubs Limited
 Durrants Management Limited                    RedCat PropCo Limited
 Gifford Lea Management Ltd                     RedCat Pub Company Limited
 Great Alne Park Management Limited             RedCat Pub Company Services Limited
 Inspired Villages Group                        RedCat Pub Hotels Limited
 Inspired Villages Group Limited                RedCat Pub Hotels Warwick Limited
 J. and J. Smith (Hotels) Limited               RedCat Retail Pubs Limited
 Little Britain Pub Company Ltd.                RedCat SubCo Limited
 Millbrook Village Management Limited           RedCat Taverns Limited
 Novus Leisure Group                            Renaissance Villages Limited
 Novus Leisure Limited                          The Bull Inn - Barton Mills Ltd
 Pastures Leisure Limited                       The Coaching Inn Group Ltd
 Pie & Pint Inns (The Castle) Limited           The Manor Hotel (Dorset) Limited
 Pie & Pint Inns (The Cherry Tree) Limited      Zoo Bar Limited
 Pie & Pint Inns Limited

 

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

 

 Various Eateries plc
 Andy Bassadone                  Executive Chairman               Via Alma PR
 Yishay Malkov                   Chief Executive Officer
 James Darwent                   Interim Chief Financial Officer

 WH Ireland Limited              Broker and Nominated Adviser     Tel: +44 (0)20 7220 1666
 Broking

 Harry Ansell
 Nominated Adviser

 Katy Mitchell / Megan Liddell

 Alma PR                         Financial PR                     Tel: +44 (0)20 3405 0205
 David Ison                                                       variouseateries@almapr.co.uk
 Pippa Crabtree

 

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:

 

   ·    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
(http://www.variouseateries.co.uk)

 

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