Issue of Options and Related Party Transaction

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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 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 208,333 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 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 104,167 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 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 104,167 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 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 136,887 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 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 136,887 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 [email protected] 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. 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