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14 Jul 2025 11:23
14 July 2025
VARIOUS EATERIES PLC
("Various Eateries" or "the Company"
and with its subsidiaries "the Group")
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Related Party Transaction
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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").
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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 Ā£3,390,324 and the nominal value is Ā£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.
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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.
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Contacts:
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Various Eateries plc | Via Alma |
Mark Loughborough (Chief Executive Officer) | |
Sharon Badelek (Chief Financial Officer) | Ā |
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Zeus (Sole Broker & NOMAD) | +44 (0)20 3829 5000 |
Harry Ansell | Ā |
Antonio Bossi | Ā |
Darshan Patel | Ā |
George Duxberry | Ā |
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Alma Strategic Communications | +44 (0)20 3405 0205 |
David Ison | variouseateries@almastrategic.com |
Rebecca Sanders-Hewett | |
Will Merison |
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About Various EateriesĀ
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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".
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The Group operates two core brands across 20 locations:
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Coppa Club, a multi-use, all day concept that combines restaurant, terrace, cafƩ, lounge, bar and work spaces.
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Noci, a modern pasta-led concept which serves very high-quality dishes at reasonable prices.
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For more information visitĀ www.variouseateries.co.uk.
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