REG - Various Eateries PLC - Related Party Transaction

Various EateriesAnnouncement

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RNS Number : 9531Q  Various Eateries PLC  14 July 2025

14 July 2025

VARIOUS EATERIES PLC

("Various Eateries" or "the Company"

and with its subsidiaries "the Group")

 

Related Party Transaction

 

Various Eateries Plc (AIM:VARE) confirms that on 14 July 2025, its wholly
owned subsidiary, VEL Property Holdings Limited entered into an agreement to
reissue its 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 14 July 2025 to 14 July 2026. The New Deep Discounted
Bond has a subscription amount of £3,390,324 and the nominal value is
£3,661,550 including accrued interest. All other terms of the New Deep
Discounted Bond remain unchanged including the annual interest rate of 8%. The
New Deep Discounted Bond is secured against the Company's freehold property in
Cobham.

 

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 so 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 and Tiffany Sword, who are
indirectly interested in this transaction) consider, having consulted with
Various Eateries' Nominated Adviser, Zeus Capital Limited, that the terms of
the New Deep Discounted Bond are fair and reasonable insofar as the
shareholders of the Company are concerned.

 

Contacts:

 

 Various Eateries plc                         Via Alma
 Mark Loughborough (Chief Executive Officer)
 Sharon Badelek (Chief Financial Officer)

 Zeus (Sole Broker & NOMAD)                   +44 (0)20 3829 5000
 Harry Ansell
 Antonio Bossi
 Darshan Patel
 George Duxberry

 Alma Strategic Communications                +44 (0)20 3405 0205
 David Ison                                   variouseateries@almastrategic.com (mailto:variouseateries@almastrategic.com)
 Rebecca Sanders-Hewett
 Will Merison

 

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 operates two core brands across 20 locations:

 

Coppa Club, a multi-use, all day concept that combines restaurant, terrace,
café, lounge, bar and work spaces.

 

Noci, a modern pasta-led 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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