REG - Various Eateries PLC - Issue of Options and Related Party Transaction
18/01/2022 07:05
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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 Ordinary shares of 1 pence each
Identification code
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 208,333
- Price 69.4p
e) Date of the transaction 17 January 2022
f) Place of the transaction London Stock Exchange (XLON)
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 Ordinary shares of 1 pence each
Identification code
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 104,167
- Price 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 Ordinary shares of 1 pence each
Identification code
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 300,000
- Price 69.4p
e) Date of the transaction 17 January 2022
f) Place of the transaction London Stock Exchange (XLON)
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 Ordinary shares of 1 pence each
Identification code
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 104,167
- Price 69.4p
e) Date of the transaction 17 January 2022
f) Place of the transaction London Stock Exchange (XLON)
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 Ordinary shares of 1 pence each
Identification code
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 136,887
- Price 69.4p
e) Date of the transaction 17 January 2022
f) Place of the transaction London Stock Exchange (XLON)
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 Ordinary shares of 1 pence each
Identification code
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 136,887
- Price 69.4p
e) Date of the transaction 17 January 2022
f) Place of the transaction London Stock Exchange (XLON)
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
(http://www.variouseateries.co.uk)
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