REG - Various Eateries PLC - Response to press speculation

Various EateriesAnnouncement

05/12/2023 07:15

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RNS Number : 6423V  Various Eateries PLC  05 December 2023

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INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

 

This announcement contains certain inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"),
and is disclosed in accordance with the Company's obligations under Article 17
of MAR.

 

VARIOUS EATERIES PLC

 

("Various Eateries" or "the Company" and with its subsidiaries "the Group")

 

Response to press speculation

 

 

The Company notes the recent press speculation and confirms that it is in
advanced stages of conducting a potential fundraising of up to £12m at 25p,
and a potential debt for equity conversion; with any potential transaction
subject to, amongst other matters, shareholder approval.  Accordingly there
can be no guarantee that any transaction will proceed.

 

The Group is well positioned to capitalise on the opportunities that have been
presented post Covid, particularly changes in consumer behaviour, and also,
both the availability and the commercials of sites. Building upon the success
of Coppa Club and Noci, any monies raised from the transaction (less fees)
would be used to accelerate growth across the Group with the further rollout
of both brands.

 

Further updates will be provided in due course.

 

Contacts

 

 Various Eateries plc                                  Via Alma
 Andy Bassadone            Executive Chairman
 Sharon Badelek            Chief Financial Officer

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

 Harry Ansell
 Nominated Adviser

 Katy Mitchell

 Alma                      Financial PR               Tel: +44 (0)20 3405 0205
 David Ison                                           variouseateries@almastrategic.com
 Rebecca Sanders-Hewett

 

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 Hugh Osmond
(Founder), Andy Bassadone (Executive Chairman), and Sharon Badelek (CFO).

 

The Group operates three core brands across 18 locations:

 

·      Coppa Club, a multi-use, all day concept that combines
restaurant, terrace, café, lounge, bar and workspaces

·      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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