Various Eateries PLC Related Party Transaction
15 July 2024 - 10:50PM
RNS Regulatory News
RNS Number : 4498W
Various Eateries PLC
15 July 2024
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 15 July 2024, 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 was to extend the redemption date from
14 July 2024 to 14 July 2025. The New Deep Discounted Bond has a
subscription amount of £3,139,189 and the nominal value is
£3,390,324 (which incorporates an 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 replacement 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, WH Ireland Limited, that the terms of the New Deep
Discounted Bond are fair and reasonable insofar as the shareholders
of the Company are concerned.
Enquiries
|
Various Eateries plc
|
|
Via Alma PR
|
|
Andy Bassadone
|
Executive Chairman
|
|
|
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|
|
|
Sharon Badelek
|
Chief Financial
Officer
|
|
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WH
Ireland Limited
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Sole Broker and NOMAD
|
Tel: +44 (0)20 7220
1666
|
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Broking
Harry Ansell
|
|
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Nominated Adviser
Antonio Bossi
|
|
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Darshan Patel
Isaac Hooper
|
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Alma PR
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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) and Sharon Badelek
(CFO).
The Group operates three core brands
across 20 locations:
|
|
· Coppa
Club, a multi-use, all day concept that combines restaurant,
terrace, café, lounge, bar and work spaces
|
|
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· 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
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END
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